Foreign and International Monetary Authorities (FIMA) Repo Facility: Sales of U.S. Treasury securities by foreigners who wanted dollars added to strains in money markets. To ensure foreigners had access to dollar funding without selling Treasuries in the market, the Fed in July 2021 established a new repo facility called FIMA that offers dollar funding to the considerable number of foreign central banks that do not have established swap lines with the Fed. The Fed makes overnight dollar loans to these central banks, taking Treasury securities as collateral. The central banks can then lend dollars to their domestic financial institutions