Reserves
ECB sees no clear rival to US dollar as global currency
ECB article says a ‘multi-polar’ system with ‘several international currencies playing consequential roles’ is a more likely outcome than an out-and-out replacement for the dollar
Trinidad governor threatens senator with legal action over ‘defamatory' comments
Jwala Rambarran takes action over claims he is ‘playing dolly house' with foreign reserves; says he will seek ‘substantial damages' unless public apology is issued
OECD warns taper hits developing-world growth prospects
Paris-based club of advanced economies warns taper will combine with declining commodity cycle and anaemic eurozone growth to hurt the growth prospects of developing countries
Should central banks review their investment guidelines as monetary policy normalises?
Central Banking editor Chris Jeffery talks to Charles Goodhart, Tim Young and Scott Dickinson about the strategies reserve managers can deploy ahead of a tightening in monetary policy
Questions mount over Bank of Ghana's involvement in airlift of $3m football bonus
Experts say central bank must have been aware of $3m government operation that breached forex controls imposed by the bank in February
RBNZ weighs ‘European presence' to aid reserve management
Reserve Bank of New Zealand says it will review whether a full-time European presence will improve returns on forex reserves; outlines plans to replace vaults
Reserve managers look to exit bonds sooner as global ‘taper' looms
Fed taper has reserve managers fretting, new Central Banking Publications survey of 69 central banks shows; ETFs are gaining traction as reserve asset class
Reserve managers to ‘reconnect’ with their central bank, says Bill Allen
Former BoE official says central bankers will become ‘more conscious’ of the relationship between reserve management activities and financial stability issues in Central Banking On Air debate
Czech paper aims to overcome ‘model uncertainty' over motives behind international reserves
Czech National Bank economists use Bayesian model averaging to suss out the chief motivations of holding international reserves
Central Bank of Ecuador deposits half its gold with Goldman Sachs
Three-year deal sees the bank swap half-a-million ounces of bullion for ‘high security instruments and liquidity', ostensibly to cover government's widening fiscal deficit
Bespoke accounting rules a boon for ECB, study finds
Profits are lower but financial buffers bigger than if central bank had adopted the International Financial Reporting Standards framework
Central Bank of Kenya backs up talk with currency intervention
Senior trader at I&M Bank explains how forex interventions have kept the exchange rate on an even keel; central bank issues statement to reinforce control of situation
Open economy helps Chile brush aside Fed taper, says CBC's Vial
Sound macro-economic principles, an independent central bank and fiscal discipline rules help Chile to ride effects of Fed taper; China slowdown is a bigger risk
Central bank holdings of Australian dollars may be levelling off, says RBA's Debelle
RBA deputy governor Guy Debelle says the majority of sovereign asset managers diversified into Australian dollars by 2012, so overseas holdings of sovereign debt may soon plateau
European central banks strike new gold agreement
Central banks in the eurozone, Sweden and Switzerland agree to coordinate their gold transactions, but scrap the 400-tonne limit on annual sales
Canadian dollar holdings could be twice Cofer estimates – Bank of Canada
Study suggests IMF may have underestimated Canadian dollar's rise as reserve currency; growing global demand for government bonds has liquidity implications at home
Central American central bank losses smallest in 25 years
However, capital positions remain weak and would even be negative if claims on governments were valued according to cashflow, IMF study finds
Central banks and SWFs must upskill to face new investment challenges
Study commissioned by State Street finds central banks, sovereign wealth funds and public pension funds preparing for a broader investment universe
Former BoE staff clash over reserves accounting in Central Banking debate
Central Banking On Air debate panellists Charles Goodhart and Tim Young clash over the relevance of mark-to-market accounting for central bank reserves
Bar should be lowered for early warnings on currency crises, says IMF economist
Currency crisis early-warning systems should err on the side of flagging up more crises rather than less, even if this leads to an increase in false alarms
Seychelles makes ‘opportunistic’ FX purchases
Central Bank of Seychelles annual report outlines how it took advantage of foreign exchange inflows to bolster its reserves by almost 40% in 2013
Zöllner: Asset managers are biggest non-bank FX traders
Head of banking at Bank for International Settlements highlights growing role of non-bank market participants in FX