10. In June 2012， in our meeting in Los Cabos， we tasked our Finance Ministers and Central Bank Governors to explore the construction of a financial safety net through the creation of a Contingent Reserve Arrangement (CRA) amongst BRICS countries. They have concluded that the establishment of a self-managed contingent reserve arrangement would have a positive precautionary effect， help BRICS countries forestall short-term liquidity pressures， provide mutual support and further strengthen financial stability. It would also contribute to strengthening the global financial safety net and complement existing international arrangements as an additional line of defence. We are of the view that the establishment of the CRA with an initial size of 100 billion U.S. dollars is feasible and desirable subject to internal legal frameworks and appropriate safeguards. We direct our Finance Ministers and Central Bank Governors to continue working towards its establishment.

　　10、2012年6月，我們在洛斯卡沃斯會晤時指示財長和央行行長探討通過成立金磚國家應(yīng)急儲備安排來建設(shè)金融安全網(wǎng)。他們的結(jié)論是建立一個自我管理的應(yīng)急儲備安排具有積極預(yù)防效果，將幫助金磚國家應(yīng)對短期流動性壓力，提供相互支持，并進(jìn)一步加強(qiáng)金融穩(wěn)定。這也將作為一道增加的防線，為補(bǔ)充現(xiàn)有國際外匯儲備安排、加強(qiáng)全球金融安全網(wǎng)做出貢獻(xiàn)。我們認(rèn)為在符合各自國內(nèi)法律和具有適當(dāng)安全保證的條件下，建立一個初始規(guī)模為1000億美元的應(yīng)急儲備安排是可能和共同期待的。我們指示財長和央行行長繼續(xù)朝著建立該安排的目標(biāo)努力。

　　11. We are grateful to our Finance Ministers and Central Bank Governors for the work undertaken on the New Development Bank and the Contingent Reserve Arrangement and direct them to negotiate and conclude the agreements which will establish them. We will review progress made in these two initiatives at our next meeting in September 2013.