Reserve management practices are splintering

Liquid dollar assets are no longer the only game in town

The 2018 Invesco survey of central banks confirms a trend of splintering reserves management policies and practises, and similar findings emerged from Central Banking’s 2018 National Asset-Liability Management (Nalm) conference.

In previous decades, the preferred strategy of reserves managers was overwhelmingly a US dollar short-duration government bond portfolio whose overriding objectives were immediate liquidity and capital preservation. This latest survey confirms the breakdown of this

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