BRICS Contingent Reserve Arrangement (CRA)

The BRICS Contingent Reserve Arrangement (CRA) was established to enhance financial stability and support member countries against global economic fluctuations. This cross-regional mechanism provides a financial safety net to respond to currency shocks and financial crises.

Decision-Making Structure

At the top of the CRA, the Board of Governors—composed of finance ministers and central bank governors of member countries—approves major policies and financial regulations. Beneath the board, a Standing Committee operates to implement decisions, review requests for financial support, and oversee operational activities.

Coordination Among Members

Member coordination is facilitated by the rotating BRICS chair. This executive structure forms the backbone of BRICS financial cooperation.