Reserves
African central bankers embrace a new world order
Africa’s central bankers are adopting new approaches to managing their reserves as trade with Brics rises and the influence of developed nations wanes
Central banks bought close to 440 tonnes of gold in 2011
World Gold Council unveils report showing large central bank gold purchases in 2011; emerging economies lead the way in rebalancing their reserves to include more of the precious metal
Venezuela completes repatriation of gold reserves
Final shipment of 14 tonnes of gold arrives in Caracas; governor certain the central bank has the capabilities to protect the precious metal
Precautionary motives drive rapid build-up of reserves in EMEs, says IMF paper
Fund study shows stockpiling of international reserves in emerging markets are motivated by insurance against capital account, rather than current account shocks
State Bank of Pakistan warns on ‘deteriorating’ budgetary conditions
State Bank of Pakistan quarterly report says government fell short of budget target last year; warns drying up of foreign direct investment could leave economy vulnerable
World Gold Council predicts ‘record year’ for central bank gold purchases
Trend of central banks being net purchasers to continue; latest update from World Gold Council predicts ‘record year’ of buying
BoK to invest reserves into onshore renminbi assets
Inter-bank bond market quota and QFII qualification pave the way for Bank of Korea to place more of its reserve in mainland China
IMF paper: High international reserves are not panacea for low-income countries
International Monetary Fund study measures economic impact of external shocks on low-income countries with different levels of international reserves; says reserves provide cushion not remedy
Fed expects $76.9 billion transfer to US Treasury
Federal Reserve estimates it will provide $76.9 billion of funds to the US Treasury after high returns from interest on income
Lagarde applauds Nigerian sovereign wealth fund creation
Christine Lagarde makes first visit to Africa since becoming managing director of the IMF; hails creation of Nigerian sovereign wealth fund as an “important advancement”
Bank of Finland paper investigates China’s evolving reserve requirements
Bank of Finland discussion paper charts the changing role of reserve requirements as a policy tool in Asia's biggest economy
South Korean won slips following Kim Jong-il’s death
Death of North Korean leader causes South Korean won to hit two-month low against dollar and sterling; world waits to see how youngest son will handle succession
UN and US lift sanctions on Libyan central bank
UN Security Council and US government announce removal of sanctions on Central Bank of Libya's assets
Renminbi to be reserve currency in less than five years: CB.com poll
A poll of CentralBanking.com readers finds most believe the Chinese currency will account for more than 5% of global reserves in less than five years
Video: National Bank of Angola’s David Carvalho on reserves allocations to Brics
Angolan central bank looks to invest in Brazilian, Chinese and African debt as it reassesses its reserves guidelines in light of the eurozone debt crisis and persistently low US Treasury yields
CB.com panel discusses changes in reserve management functions
CentralBanking.com poses the question: What do central banks want from reserves and reserve managers? Panellists discuss how the financial crisis has altered the role of reserve managers
NALM Africa 2011: Beware the risk 'numbers' say African central bankers
African central bank risk chiefs say reserves managers need to beware the numbers produced by complicated risk management software systems and rely more on their own qualitative judgement
NALM Africa 2011: African central banks rethink reserves allocations
The drop-off in US Treasury yields and concern about a eurozone sovereign collapse has prompted a number of African central banks to review their reserves allocations
Reserves act as effective insurance mechanisms during crises: Central Bank of Brazil paper
Central Bank of Brazil study says accumulation of international reserve in lead up to crisis helped reduce burden on growth
Emerging market central banks lead gold rush
World Gold Council Global Demand Trends report shows central banks were net buyers of gold in third quarter of 2011, led by Russia, Bolivia and Thailand
Sanusi reveals ‘strategic’ decision to hold renminbi reserves
Governor of the Central Bank of Nigeria explains why he made the decision to convert some of the country’s reserves into renminbi; says Nigeria left it “too late” to buy gold
IMF evaluates reform options for SDR basket eligibility criteria
Executive directors meet to discuss staff paper on criteria for broadening the SDR currency basket; “freely usable” criterion set to stay
Held in reserve
Gary Smith says it is time for central banks to define what they want from reserves and reserve managers.
Rule of thumb is inaccurate method to design reserves policy: IMF paper
Fund study says economic reforms are a more durable policy than international reserves at mitigating effects of external shocks