China, Japan, Korea to pool some reserves - report
The report said Japan's Koji Omi, China's Jin Renqing and South Korea's Kwon Okyu will join 10 finance ministers from Southeast Asia in Kyoto on Saturday 5 May to discuss combining some of their $2.7 trillion in foreign reserves.
``Things are at a very early stage and details haven't been set,''
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
FX reserves commonly invested in US Treasuries, bank deposits
SIBs and EU NextGeneration fund trail behind, as reserve managers avoid infrastructure and crypto
External managers hired to set up new asset classes and train staff
Central banks also look to external managers to boost returns and access market intelligence
Reserve managers cut duration as top inflation-proofing strategy
No respondent reports expansion into non-conventional assets
Boards responsible for benchmark approval at most central banks
Over half of lower-middle income respondents favour investment committee over other methods
Central banks’ average import coverage ratio falls further
Upper-middle income institutions tend to have a higher ratio
Reserve management staff salaries increase by almost 6% from last year
Staff in Europe remain the best paid globally
Managers divided on sanctions effect on US dollar as reserve currency
Over 43% say it will weaken its status, but nearly 40% say it will not have meaningful long-term impact
SDR allocation boosted global economy – IMF report
Review finds allocation met its main objectives, but some countries are failing to deliver on pledges