Reserves
RBI deputy targets ‘more vibrant’ FX market
Harun Khan says Indian foreign exchange market has ‘come a long way’, but a number of challenges remain; rupee has stabilised in the past few months
Supreme Court clears Central Bank of Sri Lanka over Greek investment
Sri Lankan governor and monetary board members cleared over investment in Greek government bonds; Supreme Court says investment decisions ‘best left to central bank’
Central Bank of Turkey quadruples amount of forex on offer in daily auctions
Lira's ‘heightened volatility' follows bank's decision yesterday to hold interest rates steady; pressure on forex the result of geopolitical risk, says analyst
Central Bank of Hungary digs into reserves to supply banks with foreign currency
Measure aims to cover balance sheet mismatch prompted by government plan to convert forex loans into local currency; central bank will allocate €3 billion for the purpose
Argentinian government will use 42% of central bank’s dollar reserves in 2015
The Central Bank of Argentina will lose $11.9 billion of its international reserves in 2015. In exchange, they will receive bonds with an amortisation period of 10 years
PBoC signs $1.63bn swap deal with Central Bank of Sri Lanka
Three-year arrangement between Chinese and Sri Lankan central banks follows deal in August allowing the latter to invest in China's interbank bond market
Carney: shortfall in reserves likely for independent Scotland
Division of UK reserves on GDP basis would leave Scots with 10% buffer, less than half what is generally considered sufficient ‘to ensure credit flows freely and effectively', according to BoE governor
Argentina’s central bank lowers cap on commercial bank dollar holdings
The objective is to improve the ‘market conditions’ of the economy, says a central bank official, but Steve Hanke argues it is a measure to prevent the dollarisation of the country
IMF deems Czech exchange rate floor appropriate ‘for now’
Latest staff report commends CNB’s decision to intervene in foreign exchange market; supports the floor but says it should be removed ‘as soon as conditions allow’
Emerging currencies face uphill battle for true internationalisation
BIS report published alongside major EME survey also warns the costs of an international currency might outweigh the benefits
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Renminbi fails two out of five key tests to be reserve currency, says Malaysian deputy
Trading prowess, official support and confidence in China are heavily in renminbi’s favour, but there are issues over the country’s financial market development and role as an exporter of capital
End of Bretton Woods has helped dollar reserves, says ECB paper
The collapse of the Bretton Woods System has resulted in significant upheaval of currency reserve trends, says an ECB working paper co-authored by Barry Eichengreen
Evaluating enhancements to reserve management
David Smart, managing director of strategic advisory, sovereign & institutional funds, Franklin Templeton Solutions, discusses developments in reserve management over the past 25 years
Sovereign wealth fund could help Macao overcome gambling dependency, IMF says
Central bank could manage new sovereign wealth fund as Macao authorities seek higher return on booming reserves; IMF encourages idea in staff report
Argentina default may threaten central bank reserves
Developments this week could spell trouble for central bank; analyst says markets have overlooked Argentina's ‘heavy' debt repayment schedule going into next year
SNB reports profit of almost $18bn for first half of the year
Swiss National Bank recovers from $10bn loss in 2013; profit on foreign currency positions amounts to Sfr 12.6bn, while gold holdings see Sfr 3.5bn valuation gain
Kazakh central bank fund seeks advisers on managing $110bn reserves
Consultants sought to help direct country's reserve management strategy and SWF's growth in the alternative assets space
Central Bank of Turkey tells lenders to drop all euros from reserve holdings
Only dollars will be allowed as a substitute for liras in required reserves, central bank announces; lenders forced to sell €12.7 billion
Sovereign bonds offer ‘return-less risk' says GIC's head of fixed income
The returns on offer from the biggest sovereign bond issuers offer too little return even for the small level of risk associated, says GIC's managing director in charge of fixed income
RMB inclusion in SDR would open way for investment by advanced economies
More advanced-economy central banks would join Swiss National Bank and invest in onshore renminbi assets if the currency was included in SDR
Nigerian central bank welcomes drop in depletion of foreign reserves
Communique says reserves accumulation must improve to provide buffer for fiscal operations, in part by greater domestic production of foodstuffs
Philippines should divert reserves to form a SWF, says BSP’s Medalla
Senior Central Bank of the Philippines official calls for excess reserves to be siphoned off into a new sovereign wealth fund
SNB strikes deal to invest in Chinese bond market
Thomas Jordan and Zhou Xiaochuan establish new swap line in deal, which also permits the SNB to invest up to $2.4 billion in renminbi-denominated assets