Feature/Reserves
Reinventing reserve management: governance, risk and agility in a fragmented global financial system
Bank Indonesia’s new total‑portfolio approach tightens governance, risk controls and implementation speed in volatile global markets, writes reserves head Rahmatullah Sjamsudin
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Financial market infrastructure services: Nasdaq
Nasdaq has added a monetary operations portal to its cloud-based reserves services as part of its growing integrated suite
US debt sustainability and central bank balance sheet dynamics
Higher interest rates are putting pressure on central bank profits and may increase supply of government debt, especially during quantitative tightening. Will central banks be required to issue bonds?
Geoeconomic reserve management
The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.
Foreign policy impact on future FX reserves composition
Restrictive covenants in global financial safety net system drive fragmentation, while CBDCs and digital petroyuan may alter FX reserve investments
The allure of private markets
SWFs have piled into the asset class while reserve managers remain wary, writes Blake Evans-Pritchard
Renminbi and the special drawing rights
What impact does the renminbi’s increased weight and the $650 billion increase in the International Monetary Fund (IMF) special drawing rights (SDR) have for the role of the Chinese currency in reserve management?
RCEP and renminbi’s role as a reserve currency
Will the new Asia-Pacific (Apac) economic partnership support the use of renminbi in settlement and as a reserve currency?
Adopting renminbi in reserve portfolios
Central Banking speaks to four reserve managers about investing in renminbi
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Does Switzerland need an SWF?
A sovereign wealth fund could adopt longer-term strategies, invest in less liquid assets and increase exposures to riskier assets such as equities, potentially boosting returns
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Should the Fed’s Fima facility be made permanent?
The emergency repo facility reassures reserve managers about access to dollar cash during a breakdown in the US Treasuries market
The ultimate store of value
Róbert Rékási, head of foreign exchange reserves management at the Central Bank of Hungary, speaks to Central Banking’s Victor Mendez-Barreira about how Covid-19 has changed gold investment trends
Has Covid-19 made gold shine brighter?
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.