Central Banking Benchmarking
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European central banks remain leaders for gold
Average gold holdings on the continent stand at 10.6 million ounces
Advanced economy central banks use more custodians
Reserve managers in advanced economies work on average with 5.6 custodians
Euro failing to challenge US dollar in global reserves – CBI Benchmarks data
Among non-European central banks euro sovereign debt accounts for just 4.1% of reserves
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Big Figure
Salaries are most influenced by national wealth
There is a relatively clear positive correlation between a country’s GDP per capita and the amount its central bank pays its reserve managers in salary (excluding pension and other benefits). This may help to explain why the European respondents have the highest average salary. Relative to per capita GDP, however, an Asian country pays its reserve managers the most, and the joint-lowest paying central bank is European, tied with an African central bank, highlighting the wide variation within regional groupings.
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Reserves