Reserves
Kazakhstan may convert some reserves into yuan: reports
Governor of the central bank says he expects the yuan to be “globally recognised as a reserve currency” this year; currency swap deal on the cards
Mexico buys 93 tonnes of gold
Bank of Mexico raises gold holdings by more than 93 tonnes in March; follows trend of other emerging market central banks
Bulgaria ordered capital hikes, report released
Bulgarian National Bank publishes 2010 Annual Report; asked three banks to increase capital
Central banks continue to purchase gold
World Gold Council releases first Gold Investment Digest of 2011; shows central banks are still net buyers of gold in Q1
CIC to receive up to $200 billion in new funds: reports
China Investment Corp to get injection of between $100 billion and $200 billion as Beijing attempts to find home for excess reserves
New York Fed RMBS sales go smoothly
Auctions of AIG legacy portfolio delivering a solid result for the Fed
China agrees $3.83 billion currency swap with New Zealand
People’s Bank of China and Reserve Bank of New Zealand sign $3.83 billion currency swap deal to further facilitate renminbi trade
Brics demand "broad-based" international reserve currency system
Leaders of the five fast-growing emerging economies support reform and improvement of international monetary system; want a stable, reliable and broad-based international reserve currency system
Central bank reserve managers recoil at sovereign risk
Central Banking Publications survey finds fears over sovereign risk led reserve managers to limit or cut exposure to “peripheral” European countries; impact also felt in attitudes towards the euro
Gold to hit $1,600 this year; GFMS survey
New survey by GFMS predicts price of gold could hit $1,600 per ounce by the end of 2011; survey captures swing to net purchases by central banks
Banque de France profits remain elevated on back of euro note increase
Annual report delivers news that profit at the Banque de France remains high this year. Net profit is €2.56 billion, profit before tax is €4.5 billion
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance
Bank of Finland reports €283 million profit
Bank of Finland experiences fall in profits as funds transferred to risk provision rise; central bank's governing body redirects increasing share of profits to government
Shift in central banks' attitude key driver of gold sentiment
World Gold Council's Natalie Dempster says central banks' renewed fondness for bullion was biggest driver of market trends in 2010
Central banks’ gold purchases continue; 20-year selling trend bucked
Official sector continued to be net buyers of bullion in three months to January; figures confirm that central banks were net buyers for first time in 20 years in 2010
The folly of foreign exchange intervention
The G-7’s bid to stem the yen’s appreciation threatens to damage Japan’s economy, Geoffrey Wood believes
China's growth and the yuan's status are not inextricably linked
China’s growing economic might has led to claims that the yuan will take its place among the reserve currencies. But, as Gary Smith argues, the link between GDP and reserve status is far from causal
IMF’s Lipsky on rebalancing SDR currency basket
IMF first deputy managing director John Lipsky says discussions on inclusion of renminbi in special drawing rights part of G-20 agenda
SNB confirms large loss on back of franc gains
Swiss National Bank reports $20.7 billion loss; figure slightly lower than that forecast in January
ECB reports €171 million profit
European Central Bank experiences sharp fall in profits for 2010 due to €1.16 billion transfer of income to risk provision fund
Hanoi to ban trade of gold bars
State Bank of Vietnam says government will issue ruling barring the trade of gold bars; move will follow 2008 ban on gold imports
Bank of Israel in the red by $4.9 billion
Israeli central bank reports loss for 2010; follows modest profit of $382 million in 2009