Securities lending banks engage external managers for new assets
Allocation to third parties rises year on year to 15.6% on average
Central banks involved in securities lending widely engage external managers to adopt new asset classes, but counterparts without such lending tend to employ third parties for training purposes, the Reserve Benchmarks 2025 find.
Slightly under half (46.9%) of central banks indicated the use of securities lending, data from a different section of the benchmarks shows. Most of these are larger reserve holders.
Central Banking used this data for cross-sectional analysis with the sample on external
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