Global Liquidity

The collateral base beneath Global Liquidity, its components and what moved them

Global Liquidity

$198.84T

12-month change +7.11%

Global Collateral Base (GCB)

$105.53T

Pledgeable collateral · 52-week +$4.82T

Collateral multiplier (M)

1.884x

GL ÷ GCB

Central banks / Government debt

25% / 75%

Share of the collateral base

This week's reading is open to all. On the free plan the charts run 11 weeks behind; the Premium plan shows every week, and every central bank behind it.

Friday Nov 13, 2026

Latest 11 weeks: Premium plan

Global Liquidity

$198.84T

12-month change +7.11%

Global Collateral Base (GCB)

$105.53T

Pledgeable collateral · 52-week +$4.82T

Collateral multiplier (M)

1.884x

GL ÷ GCB

Central banks / Government debt

25% / 75%

Share of the collateral base

This week's reading is open to all. On the free plan the charts run 11 weeks behind; the Premium plan shows every week, and every central bank behind it.

Friday Nov 13, 2026

Latest 11 weeks: Premium plan

Global Liquidity growth

Weekly observations · full history since 2019

Sources of Global Liquidity

CB within GCB within GL · nested totals, not components · USD trillions

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Global Collateral Base explorer

All 22 components, ranked by what each did to Global Liquidity this week

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Component detail · USD · Nov 15, 2026

ComponentLatest · 11W change

Government debt market 6CAD · Government debt$6.98T−$61.7B
Government debt market 4EUR · Government debt$5.62T−$472.5B
Government debt market 7AUD · Government debt$4.15T+$315.2B
Central bank 8AUD · Central bank$3.91T+$132.2B
Government debt market 9MXN · Government debt$3.59T+$63.4B
Central bank 7CAD · Central bank$2.67T+$25.0B
Government debt market 8KRW · Government debt$2.61T+$117.6B
Central bank 2EUR · Central bank$2.33T−$204.2B
Central bank 10INR · Central bank$1.63T+$107.7B
Central bank 9KRW · Central bank$1.53T+$117.5B
Government debt market 10SGD · Government debt$1.37T−$126.9B
Central bank 11BRL · Central bank$1.22T+$71.7B
Central bank 12SEK · Central bank$295.3B+$23.4B
Central bank 6CHF · Central bank$0.0B−$124.9B

Global Collateral Base components, latest week, in US dollars
Component	Latest	1W	4W	11W	52W	Share	Moves on
	$18.49T	+$87.0B	+$310.4B	+$100.2B	+$1.07T	19.0%	Debt stock (quarterly), FX translation, Balance sheet
	$13.42T	−$115.7B	−$255.1B	−$437.4B	+$1.19T	13.8%	Debt stock (quarterly), FX translation, Balance sheet
	$11.90T	−$6.3B	−$46.7B	+$501.3B	−$890.5B	12.2%	Debt stock (quarterly), FX translation, Balance sheet
	$8.77T	−$17.5B	−$69.3B	−$219.6B	−$1.92T	9.0%	Debt stock (quarterly), FX translation, Balance sheet
Government debt market 6CAD · Government debt	$6.98T	+$48.4B	+$48.9B	−$61.7B	+$603.5B	7.2%	Debt stock (quarterly), FX translation
Government debt market 4EUR · Government debt	$5.62T	−$26.8B	−$317.9B	−$472.5B	−$1.69T	5.8%	Debt stock (quarterly), FX translation
Government debt market 7AUD · Government debt	$4.15T	+$53.2B	+$125.0B	+$315.2B	−$688.6B	4.3%	Debt stock (quarterly), FX translation
Central bank 8AUD · Central bank	$3.91T	+$5.5B	+$58.2B	+$132.2B	+$1.08T	4.0%	Balance sheet, FX translation
Government debt market 9MXN · Government debt	$3.59T	−$8.6B	−$23.6B	+$63.4B	−$92.0B	3.7%	Debt stock (quarterly), FX translation
Central bank 7CAD · Central bank	$2.67T	−$5.9B	+$47.7B	+$25.0B	−$102.9B	2.8%	Balance sheet, FX translation
Government debt market 8KRW · Government debt	$2.61T	+$33.2B	+$98.2B	+$117.6B	+$237.8B	2.7%	Debt stock (quarterly), FX translation
Central bank 2EUR · Central bank	$2.33T	−$43.7B	−$59.4B	−$204.2B	−$1.34T	2.4%	Balance sheet, FX translation
Central bank 10INR · Central bank	$1.63T	+$7.4B	+$27.2B	+$107.7B	+$479.5B	1.7%	Balance sheet, FX translation
Central bank 9KRW · Central bank	$1.53T	+$8.3B	−$1.2B	+$117.5B	+$238.9B	1.6%	Balance sheet, FX translation
Government debt market 10SGD · Government debt	$1.37T	−$14.4B	−$45.4B	−$126.9B	−$24.6B	1.4%	Debt stock (quarterly), FX translation
Central bank 11BRL · Central bank	$1.22T	−$1.2B	+$24.3B	+$71.7B	+$220.0B	1.3%	Balance sheet, FX translation
Central bank 12SEK · Central bank	$295.3B	+$2.1B	+$2.5B	+$23.4B	−$53.2B	0.3%	Balance sheet, FX translation
Central bank 6CHF · Central bank	$0.0B	$0.0B	$0.0B	−$124.9B	$0.0B	0.0%	Balance sheet, FX translation

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Component ledger

Every central bank and government debt market: its level and its 1, 4, 11 and 52-week change in dollars

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History

Cumulative paths since 2020 and the week-by-week change behind them.

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Dollar translation effect

What the dollar alone has added to or taken from the collateral base since 2020

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Central banks vs government debt

Which half of Global Liquidity has done the moving since 2020

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Weekly change in the collateral base

Every Friday's change in dollars, with FX and bond prices inside it

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Premium plan. Read Global Liquidity the week it lands, with every central bank and government debt market behind the move.

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Source: BlockPhi Global Liquidity Model, built on the Bank for International Settlements (BIS) debt securities statistics and the balance sheets of the Federal Reserve, the ECB, the Bank of Japan, the Bank of England and the People’s Bank of China. This service uses the API provided by the “Bank of Japan Time-Series Data Search.” The Bank of Japan does not guarantee the content of the service.