Reserves
Sarb official warns about use of Aussie investments as a proxy for China
Australian and Chinese markets are 'vastly different', so investing in Australia as a proxy for China could be risky, South African Reserve Bank risk manager warns delegates at Nalm Africa 2013
Kazakhstan’s integration of alternative assets into its reserves management
Resource-rich Kazakhstan has embraced alternatives through the creation of a new fund to drive returns and improve diversification of its foreign reserves. Yeszhan Birtanov reports
Reserve managers diversifying due to rise in risk, not a search for return, say CBP panellists
Central bank reserve managers are moving into new assets due to concerns about rising risks in traditional currencies, rather than in a search for yield, say Central Banking On Air panellists
Finland joins Riksbank in greater gold transparency
Bank of Finland joins Riksbank in revealing where it stores its gold; both banks cite geographical diversification as a motivation, but say it still makes sense to keep most in London
Riksbank reveals location of gold holdings
Three-quarters of the Swedish central bank's gold reserves are held in the UK and Canada; disclosure follows discussions with other central banks on confidentiality
RBA and government set out rules of engagement
Update to ‘statement on the conduct of monetary policy' says Australian government recognises the Reserve Bank's need for a strong balance sheet; RBA will pay no dividend to the government this year
Australian government pours $8.5bn into RBA's reserves
New Australian government blames dwindling reserves on predecessor's demand for ‘extraordinary' dividends; records show losses were incurred due to currency movements in 2010–11
Bank of Lithuania prepares for move into equities
Central bank announces plan to invest in riskier assets after returns on its foreign reserves drop close to zero; follows gradually increasing trend among central banks
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency
Reserve managers continue advance into Canadian and Australian dollars
IMF's latest Cofer data displays increasing popularity of Canadian and Australian currencies as reserve assets, while the euro reverses a previous decline
BIS papers probe LatAm currency interventions
Working papers written by economists from each of five Latin American central banks and published by the BIS investigate the efficacy of various currency intervention strategies
BIS statistics show surge in emerging market claims
Latest figures for cross-border claims show rapid increase in lending to emerging markets in first quarter of 2013, though Fed taper talk has since reversed the flow
Surpluses of Germany and China feed global imbalances, BIS research finds
Bank for International Settlements paper compares current account and creditor positions of Germany and China, finding Germany’s surpluses to be more resilient in the face of the global financial crisis
Reserve accumulation enhances welfare if coupled with capital controls
Foreign reserve accumulation is part and parcel of a growth strategy based on strong capital investment in a financially constrained economy, according to a Banque de France research paper
SNB currency action leaves big imprint on Swiss balance of payments
Reserve assets at the SNB increased by Sfr175 billion in 2012 – nearly a fourfold increase from 2011 – reflecting efforts to keep the franc at a sustainable level
Worrell rules out devaluing Barbadian dollar
Central Bank of Barbados concerned by foreign exchange imbalance emerging in the economy; calls on government to reduce fiscal deficit in bid to avoid devaluation of currency
BIS banking department deputy makes switch to State Street OIG
Founder of State Street's Official Institutions Group John Nugée will retire in October, and be replaced by Louis de Montpellier of the BIS
Kenyan central bank defends depreciating shilling
The Kenyan shilling has dropped almost 5% in value against the dollar since May; central bank insists this is a necessary rebalancing and does not pose any damaging inflationary pressures – yet
Central banks face $450bn in paper losses from gold holdings
The decline in world gold prices during the first half of the year has resulted in the value of central bank gold reserves falling by $447 billion; latest entrants into bullion market hardest hit
Cape Verde aims to keep euro peg credible
Maintaining the Cape Verdean escudo’s peg to the euro is the central bank’s ‘main concern’; setting policy to stabilise its international reserves and – in turn – the peg
Bank of England publishes history archive online
Digital archive project has uncovered BoE's controversial role in Nazi gold appropriation; includes all of the central bank’s main publications in addition to previously unpublished history
Central Bank of Egypt seeks help at home and abroad to shore up currency reserves
CBE governor wins $3bn in grant and interest-free loans from the UAE; bank launches ‘Egypt support' fund amid political unrest
Renminbi convertibility remains top of Chinese reform agenda – HSBC
Chinese authorities interested in ‘quality’ rather than ‘quantity’ of renminbi growth; expected to push through reforms to achieve convertibility in 2015, says senior HSBC executive
Euro's international role hampered by continued fragmentation
ECB study finds reserve manager confidence in the euro is recovering, but a leading fund manager says the euro cannot challenge the pre-eminence of the dollar without issuing federal bonds