Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
Central banks in lower-income countries typically have experienced higher growth in the value of their foreign exchange reserve portfolios during the past 12 months compared with those in higher-income countries. More broadly, central banks appear to have weathered the financial stresses induced by Covid-19 lockdowns, with most of those surveyed in Reserve Benchmarks 2020 reporting positive returns in the wake of the crisis.
Of the 34 central banks that provided a figure for the annualised
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More on Reserves
Fewer central banks added new reserve assets in 2023
Overall, 10.3% of institutions diversified their asset allocation, down from 18.6% last year
Wallstreet and others rank highest for reserves technology services
Ion’s Wallstreet treasury system tops the 2023 rankings
Reserve managers rank JP Morgan top for custody and banking
BlackRock preferred for knowledge transfer and capacity building
Reserve managers vote BlackRock as overall best asset manager
Goldman Sachs and “other” asset management firms also score highly
High income countries less likely to tranche reserves
Overall, 72.4% of central banks divide their portfolios into liquidity and investment sections
Fewer than half of reserve managers perform liquidity stress tests
Approach tends to be more common among African and American institutions
FX reserves commonly invested in US Treasuries, bank deposits
SIBs and EU NextGeneration fund trail behind, as reserve managers avoid infrastructure and crypto
Few central banks expanded existing swap lines over the past year
Nearly one-third of new and existing lines are denominated in US dollars