Reserves
Venezuela in talks to move gold from London to New York
Any agreement should be accompanied by reforms such as central bank independence, lawyer says
Larger reserve holders operate longest portfolio duration
Duration among respondents holds steady at around two years, on average
Reserves exposure to non-SDR sovereign debt increases
US Treasuries and gold remain the most prominent asset classes
Uzbekistan and Hong Kong formalise gold trade co-operation
Uzbek central bank stresses need to diversify country’s precious metals sector
Managers predict moderate AI impact on reserves
But many reserve managers see high future potential for AI
Bolivia’s central bank suspends dollar purchases
Institution says increasing HLAs gave it leeway to meet obligations and mitigate FX market pressure
Most central banks have plenty of import coverage
There is little common ground between respondents at high or low levels of coverage
China ups gold reserves by largest amount in nearly three years
Monthly increase is biggest since 2023 as PBoC’s holdings hit 76.7m troy ounces
Demand for excess reserves goes beyond price signals – BIS paper
Study shows drivers for banks include payment flow volatility and cost of borrowing
Staff strength and salary associated with size of reserves
Managers report greater satisfaction with non-staff resources than staffing levels
DNB moves North America-held gold, citing ‘geopolitical unrest’
Dutch central bank insists it has ‘excellent relationships’ with NY Fed and Bank of Canada
Central bank reserve managers unnerved by Treasury market woes
Officials are unsettled but constrained as US creditor base shifts to private hands
Book notes: The almighty dollar, by Brendan Greeley
The history of the currency that came to be ‘the dollar’ is the centrepiece in an otherwise confused book
EU foreign ministers renew prospect of Russian asset seizure
Letter acknowledges solution cannot place undue financial risks on any member state
RBA says supply of reserves is still higher than demand
Transition from central bank-driven approach towards market-led system is ongoing, official says
Economists design stress-test model of dominant currency
Geopolitical shocks can disrupt its hegemony, but dollar remains secure, NBER paper finds
Iran’s central bank chief says its oil exports are at zero
Governor adds that foreign reserves remain frozen as Trump vows ‘economic D-day’ against country
US Treasury doubles long-term bond purchases
Treasuries with 10–20 and 20–30-year maturities to be bought at $4 billion 'per operation'
Ghana’s gold board rejects responsibility for $1.7bn losses
Dispute follows claim by politician citing a report by IMF
Strong recovery in US treasury purchases is ‘unlikely’ – paper
Central banks’ demand for US government bonds has ‘plateaued’ as reserve managers diversify
Venezuela seeks gold return from BoE for earthquake recovery
Interim government and opposition agree to “concentrate efforts” to retrieve reserves held in London