Reserves
MPC member Broadbent discusses sterling depreciation
Ben Broadbent analyses the cause and consequences of the sterling’s depreciation between 2007 and 2008
Aussie dollar gains result in $4.78 billion loss for central bank
Reserve Bank of Australia records massive loss during 12 months to June due to decline in valuation of foreign asset reserves
Fund directors split on excess gold profits
IMF’s executive board divided over use of windfall profit from gold sales; plans to revisit potential uses in late 2011
Central banks open new chapter as large net gold buyers
Thomson Reuters GFMS Gold Survey 2011 shows net official purchases of gold rose to more than 200 tonnes during the first half of the year; forecasts gold to reach $2,000 by year-end
Libya wants assets released sooner
Return of unfrozen Libyan assets "slow"; draft UN resolution circulated to release more
South Korea advertises for new reserve manager
Bank of Korea seeks reserve manager; follows first gold purchase for years this summer
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket
Carstens content with Mexican position
Governor of Mexican central bank says country is in a strong policy position; ready to act if global economy worsens
Libyan gold sold as Gaddafi regime ended
“Official” central bank assets safe, says new central bank governor; former dictator sold 29 tonnes of gold as opposition closed in
Kazakhstan puts faith in gold
Governor announces central bank will buy entire domestic gold bullion output until at least 2014
Fears over Libyan central bank money realised: reports
Multi-vehicle convoy arrives in Niger carrying central bank cash and gold
Central banks’ flight to safety in reserve holdings continues
Reports continue to emerge from around the world of central banks diversifying their foreign currency reserves and adding to gold holdings
Thailand's finance minister supports SWF plan
Thai finance minister Thirachai Phuvanatnaranubala urges central bank to consider establishment of sovereign wealth fund to manage foreign currency exposure
ECB foreign reserve managers need different incentives; working paper
Research suggests new rewards system for foreign reserve managers would help align results with ECB preferred outcomes
‘Astronomical’ Chinese reserves under scrutiny: Fed paper
Federal Reserve Bank of St. Louis working paper highlights drawbacks to current global-imbalance literature when trying to assess situation in China
Norges Bank notes importance of research for fund management
Models of investor heterogeneity, non-tradable, non-financial risk, market frictions and time-varying uncertainty all serve to help modify portfolios appropriately
Sudan Central Bank seeks to build gold refinery
Central Bank of Sudan asks for tenders to construct a gold refinery in the country
RBI profits fall on low return from foreign assets
Reserve Bank of India reports a 20% decline in profits over the 12 months to June due to declines in income on foreign assets and higher expenditure costs
Foreign central banks pile into Swedish government bonds
Central banks acquired 49% of the latest sale of government debt issued by The Swedish National Debt Office.
Gaddafi may escape with central bank gold, says ex-Libyan governor
Former governor of the Central Bank of Libya Farhat Bengdara says Gaddafi may have run off with billions of dollars worth of gold; says Libyan leader attempted to sell bullion as bribe for security
ING’s Gupta: Yuan to become reserve currency in two years
ING Investment Management Asia’s CIO believes the yuan will become a reserve currency within the next two years driven by the ongoing debt problems in Europe and the US.
Venezuela’s Chavez orders diversification of reserves
Hugo Chavez has asked the central bank to repatriate gold reserves and diversify holdings amid “global crisis of capitalism”; controversial president also plotting to nationalise gold industry
Barbados moves back into the black
Central Bank of Barbados reports $1.5 million profit for 2010 due to a higher return on securities sales and cost reductions