Europe leads on gold lending and swaps

Just over 20% of central banks engage in these operations

Central banks in Europe lead other regions in gold lending and swaps, according to Reserve Benchmarks 2021.

Globally, most central banks still shy away from these operations. Just over a fifth of the 44 central banks that responded to this question said they engage in gold lending and swaps. 

Gold lending involves loaning gold to receive a yield. Gold swaps are over-the-counter derivatives where gold is exchanged for foreign exchange, at a specified price with a commitment to repurchase the

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