Reserves
Central banks are major driver of gold prices, says GFMS
Latest Thomson Reuters GFMS gold survey finds central banks are supporting gold prices via large purchases; adverse economic climate and quantitative easing also contributing to price increase
Chile director presents results of fund management outsourcing
Divisional director at the Central Bank of Chile discusses changes to the management of pension reserve fund; responsibility given to external managers for first time
Bank of Thailand's Prasarn Trairatvorakul on the central bank's 70th anniversary
On the eve of its 70-year anniversary, Bank of Thailand’s governor, Prasarn Trairatvorakul, talks to Blair Baker about the central bank’s emerging role in domestic, regional and global economics
RBA minutes show bond yields at “historic low”
Reserve Bank of Australia’s August monetary policy minutes note historically low bond yields; offshore purchases of Australian dollar remain high
IMF paper evaluates reserve adequacy in emerging markets
Working paper studies the determinants of reserve holdings in emerging markets and small islands; proposes measure of reserve adequacy
Central banks make “record” gold purchases in Q2
World Gold Council says central banks bought 254.2 tonnes of gold in the first half of 2012; Kazakhstan, the Philippines, Ukraine and Guatemala among the countries that added to reserves
Central Bank of Barbados governor praises government’s fiscal strategy
DeLisle Worrell says Barbadian government’s policy strategy is appropriate to the ‘economic reality’; follows downgrade of sovereign debt to BB+ in July
SNB reveals scale of latest foreign exchange purchases
Swiss National Bank posts large increase in foreign exchange holdings from June to July; purchases represent efforts by central bank to prevent safe-haven flows into country
Bank of Korea reveals July gold purchase
Korea adds hundreds of millions of dollars' worth of gold to reserves in July; FX reserves swell by $1.97 billion to $314.35 billion
Swiss National Bank posts profit in first half of year
Latest figures show central bank made a profit in first half of the year; majority of gains come from holdings of foreign currency purchased to maintain minimum exchange rate against euro
BIS paper links funding to emerging economies and stock market volatility
Working paper studies funding flows between emerging market central banks and investors during stock market calm and volatility; suggests this reinforces risk-on and risk-off markets
Asian central bank reserves surpass optimal levels, says IMF’s Zavadjil
Reserves held by Asian central banks are rising past optimal levels even if cover for longer-term foreign fund and FDI ouflows are added to import and short-term debt coverage metrics, says IMF expert
Russia takes lead in gold purchases in May
Latest World Gold Council figures show Bank of Russia increased gold reserves by largest amount in May; council says emerging markets purchases viewed as a part of ‘broader theme’
Bhutanese central bank warns of external imbalances
Royal Monetary Authority of Bhutan monetary policy statement outlines threats to currency peg; says long-run solution requires strengthening of macroeconomic fundamentals
‘Not clear’ China wants renminbi to rival dollar, says CIC’s Lau
China is pushing for the renminbi to be used more widely in commerce and finance but it is unclear if Beijing wants its currency to rival the US dollar and euro, says CIC’s Lawrence Lau
Nalm Americas: Reserves panel split on euro
Some central banks in the Americas are reducing allocation to euro – but not necessarily as a result of the eurozone debt crisis
Czech National Bank shifts reserves away from euro
Annual report shows decision was taken to hold Australian dollars as part of foreign currency reserves; swapped part of euro holdings for the Australian currency
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued
Gold demand drops from high 2011 figures
Gold Demand Trends report from World Gold Council notes 5% lower demand in Q1 this year compared with 2011
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
Bundesbank reveals location of gold holdings
German central bank says gold is held in four countries; kept in the vaults of the trading centres where transfers happened
Renminbi could be adopted into SDR by 2015, says CentralBanking.com panellist
Latest Central Banking On Air debate asks if reserve mangers should invest more in emerging markets; panellists believe renminbi will be adopted as part of SDR with just the timescale in question
Video: Bank of Mexico’s Duclaud says new rules will hit sterilisation costs
Javier Duclaud explains Mexico’s problems in 2008, why the country has increased reserves by $70 billion and how Dodd-Frank and Basel III are causing sterilisation problems for central banks
Reserve managers cling to the dollar but shun the euro, CBP survey finds
Central banks have reduced their euro reserve holdings and looked to diversify into non-traditional currencies due to ongoing eurozone tumult finds annual Central Banking Publications survey