Custodian use in upper-middle income economies declines

Unstable jurisdictions face risk of losing access to assets held abroad

The use of custodians by reserve managers in upper-middle income countries declined over the last year.

While generally, the use of custodians across central banks has remained stable, over the last year the average number of custodians used by central banks in upper-middle income countries fell from 4.5 to 3.3, according to Reserve Benchmarks 2021. 

As reserve levels around the world hit an all-time high, benefits of private custodians safeguarding assets can include data technology and

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