Reserves
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
SNB predicts rise in profits for 2021
Early estimate suggests profits will be up around Sfr5 billion on 2020 figure
BIS paper says investors can cut carbon footprint ‘with relative ease’
Passive investors can achieve substantial carbon reduction with simple approach, authors say
Afghanistan’s frozen assets trigger controversy as harsh winter looms
Cash that is “desperately needed” by ordinary Afghans remains frozen in overseas central bank accounts
Turkish lira rises as central bank launches ‘incentive’ scheme
Selling pressure eases as new facility unveiled, but outlook remains uncertain
BdF paper looks at use of capital controls and foreign reserves
Many countries combine both to moderate effects of international capital flows
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Central bank independence helps build reserves – researcher
Latin American central banks given independence built up strong FX reserves, paper finds
Sri Lankan central bank takes emergency measures as FX crisis deepens
Central bank will securitise remittances to fund reserves, but statement hints at steep fall in inflows
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
Saudi Arabia gives $3 billion to Egyptian central bank
Donation is pandemic aid, and follows similar deposit with Pakistan central bank
Saudi Arabia boosts Pakistan’s reserves
Package from Saudi development fund comes as Pakistan’s balance of payments issues ease
Reserve Benchmarks 2021 report – in search of liquidity
Insights on portfolio management during the Covid-19 shock, staff and technology adaptation during the crisis, and the rise of green bonds
Nordic central banks stress limits to tackling climate change
Central banks face challenges in greening reserves management and monetary policy
Central banks sign up to Fed’s Fima facility
Reported usage is marginal, but backstop is highly valued by reserve managers
Custodian use in upper-middle income economies declines
Unstable jurisdictions face risk of losing access to assets held abroad
Bespoke indexes often used with derivatives and securities
Central banks using bespoke indexes are more likely to lend securities
Europe leads on gold lending and swaps
Just over 20% of central banks engage in these operations
Technology reserve staff levels hold during pandemic
Remote work posed an operational challenge
Investment committees play dual reserve benchmark roles
Final decision made by committees at half of responding central banks