Reserves
Strong dollar sees RBA book record A$3.8 billion hit
Reserve Bank of Australia reports biggest ever loss of A$3.8 billion as foreign exchange reserves slide on domestic currency strength
RBI looks at crisis impact on central banks’ balance sheets
Reserve Bank of India study shows financial crisis led to dramatic change in composition of central bank balance sheets
Korea’s Kim hints at move into gold: reports
Bank of Korea governor Kim Choong-soo tells lawmakers central bank must cautiously consider increasing gold reserves
US Treasury stalls on decision to name China ‘manipulator’
US Treasury says it will delay publication of report on exchange rates until after G20 gathering in Seoul
RBNZ reports NZ$111m loss
Reserve Bank of New Zealand makes loss after appreciation in New Zealand dollar, slashes dividend payment to government
BIS on renminbi management
Bank for International Settlements research results consistent with the renminbi having been managed in 2006-08 against a basket of currencies
BIS on offshore domestic currency use
Bank for International Settlements paper says monetary stability risks from offshore credit growth can be managed through prudent policy
IMF on reserve adequacy in The Gambia
Research suggests reserves equal to the value of between 4.5 and seven months of imports are needed
Gold to break $1,300 barrier: GFMS
Gold forecast to rise above the $1,300 mark, research body says; central banks becoming net buyers a factor
S&P boosts Argentine rating one notch
Credit ratings agency Standard and Poor’s lifts Argentina’s sovereign credit rating from B- to B; cites strong economic recovery and solid debt management strategy
IMF sells ten tonnes of gold to Bangladesh Bank
Sale to Bangladesh Bank takes total Fund gold sales to 310 tonnes
FX market going global: BIS
Bank for International Settlements’ triennial survey of foreign exchange markets shows decline in prevalence of local transactions, dollar and sterling
Debt to reserve ratio key indicator of country default: World Bank research
World Bank paper identifies ratio of debt to reserves as most important indicator of sovereign default
India and China set to drive global demand for gold
World Gold Council says demand for gold jewellery in India and China will ensure robust gold market in 2010
RBI’s income plummets on low returns
Reserve Bank of India’s Annual Report shows income in past fiscal year dropped as rates of return fell worldwide; central bank expects temporarily weakened output path
Southern Sudan on the brink of collapse: deputy governor
Central Bank of Sudan deputy governor says Khartoum has starved south of foreign currency, leaving it two weeks shy of economic crisis; oil spat thought to be linked to independence referendum
Russia inches back toward dollar assets
Bank of Russia report shows percentage of dollar assets increased by end 2009, reversing trend set in two previous years; central bank also upped sovereign debt holdings and risk appetite declined
BoJ on dollar’s “exorbitant privilege”
Bank of Japan research notes that with great privilege comes great responsibility
Why attitudes to gold have changed
Jill Leyland investigates why the events of recent years, in particular the financial crisis, have tipped the balance away from net official sector selling towards net buying of gold.
Politics is hampering national wealth management
Poor communication and differing incentives between politicians and national wealth managers are undermining performance, argues Gary Smith.
Rethinking reserve management
The crisis demands a rethink on both the size and composition of central banks’ reserves, argues Ludek Niedermayer.
Donald Kohn: a life in central banking
The outgoing vice chairman of the Federal Reserve Board has spent 40 years at the central bank. He tells Blair Baker about the significant evolution in policymaking he has witnessed and, latterly, overseen.
Bear bailout vehicle turns first paper profit
Federal Reserve balance sheet data shows Bear Stearns’ assets held in Maiden Lane vehicle made a paper profit for first time since its inception
Argentina dips into central bank profit to finance expenditure
Central Bank of Argentina transfers $760m from last year’s profits to government to find expenditure; government unwilling to tap bond markets until yields come down sufficiently