Reserves
Future Fund takes cautious stance despite strong returns
Australian sovereign wealth fund exceeds benchmark return but managers stress need for “discipline” amid reach for yield
Bundesbank moves 20% of gold reserves back to Germany
Bundesbank no longer stores gold in Paris
Indonesia considers new riskier tranche for reserves – Budianto
Head of reserves says political risks are more of a worry than portfolio flows; explains how Bank Indonesia’s strategy reinforces market development in 30-minute interview
Record-high FX reserves prompt new questions for SNB
Reserves reach $734 billion as Swiss franc depreciates against euro
IMF issues advice on Botswana’s sovereign fund
Rules should govern withdrawals from government’s account, IMF says
BoE working paper examines ‘exorbitant privilege’ benefits
Economist analyses whether the UK enjoyed the same benefits as the US when it was the pre-eminent issuer of a global reserve currency; findings show fundamental differences between the two in terms of investment patterns
How to divest public sector assets
Exit programmes for public sector assets could create uncertainty through supply/demand imbalance, but a tap facility – a private sector triggered exit programme – could be the solution, writes Hon Cheung, chief investment strategist, official…
Sri Lanka issues first t-bonds under new transparent framework
Both maturities offered were oversubscribed in phase one, says central bank
HKMA’s investment team “on guard” for turbulence later in the year
HKMA deputy chief executive warns of an undercurrent of market uncertainties in the second half of the year, after fund made record returns in the first half
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
Future of renminbi looks bright – Swift
The proportion of international payments denominated in renminbi falls to less than 2%, but the number of institutions using the currency increases
Bank of Canada severs mechanical link to external ratings
After several years of work, the Bank of Canada is now “well positioned” to end its mechanistic reliance on external credit ratings, and is helping others do the same, says Philippe Muller
Central Bank of Paraguay re-enters markets with World Bank support
World Bank to provide assistance on efficient portfolio management following re-entry into international markets
BEAC to implement measures to rebuild reserves across region
African central bank to restrict bank refinancing, while attempting to modernise its liquidity and monetary policy framework; previous monetary policy has contributed to current account deficit
SBP clashes with government on exchange rate drop
Pakistan’s finance minister expresses “deep concern” over sudden drop in currency, but central bank says it is now “broadly aligned” with fundamentals
MAS’s Menon plays down record profit figure
The record-breaking profit was due to strong positive currency translation effects and higher investment gains
Malaysian government escalates investigation on historic forex losses
Commission will investigate heavy forex losses by the Malaysian central bank in the early 1990s, after task force finds evidence information was concealed
ECB buys €500 million worth of renminbi for forex reserves
Belgian central bank also announces purchase of Chinese currency, plus South Korean won
Qatari peg under pressure despite reassurances
Riyal drops below official level of the peg amid concerns over Qatar’s diplomatic isolation; central bank governor highlights deep pool of reserves