Larger reserve holders operate longest portfolio duration
Duration among respondents holds steady at around two years, on average
Central banks with larger reserves have the most longest duration portfolios, data from the Reserve Benchmarks 2026 reveals.
Larger reserve holders are classified relative to the average value of respondents’ reserves – $79.5 billion. Central banks with values below that figure are considered smaller reserve holders.
Duration averages 2.4 years across 14 larger reserve holders. The range is three months to 6.2 years. In the subset of smaller reserve holders, the average portfolio duration is 1.9
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