Reserves
PBOC trying to cool overheating sectors
The People's Bank of China is seeking to cool overheating economic sectors such as real estate as well as cut its huge foreign exchange reserves, a senior Chinese government official said.
Philippines, Japan sign currency swap
The Philippine central bank and the Bank of Japan have signed a currency swap arrangement letting both countries draw from each other's foreign reserves for any "immediate need".
Comments: Reserve diversification
Recent reports of the diversification official foreign exchange reserves in the Middle East have not gone unnoticed. Economists are starting to ask if the prospect of large-scale reserve diversification is back on the international agenda, following a…
Strategist says central banks may sell dollars
Central banks are likely to sell dollars in 2006 as they move to diversify their reserves in favour of the euro, according to BNP Paribas SA.
Srejber on how the Riksbank's assets are managed
In the speech 'How the Riksbank's financial assets are managed' given on 25 April Eva Srejber of the Sveriges Riksbank said by investing in asset types with credit risk, that is, other fixed-income securities than government bonds, we can increase the…
Comment: Will the Fund's new approach matter?
Stephen Roach, managing director and chief economist of Morgan Stanley, suggests that the renewed debate on the role of the international financial institutions is missing questions that "should be near the top of the global agenda".
Riksbank changes currency allocation
Sweden's Riksbank announced on Friday 21 April that it has reallocated the currency holdings in the bank's foreign currency reserves. The changes include a move away from US dollar holdings in favour of euros.
Reserve diversification
Sweden's central bank is the world's oldest, and according to this article published on Friday 21 April, it is also proving to be among the most proactive in managing its foreign exchange reserves.
Comment: Sweden sheds reserve dollars
The Swedish Riksbank dropped a bit of a bombshell on international currency markets on Friday 21 April by announcing a significant reduction in the share of dollars and yen in its foreign reserves portfolio. Although Sweden has a relatively small…
China short-term gold additions unlikely - GFMS
The People's Bank of China is very unlikely to increase its gold reserves in the short-term but in the medium- to long-term there is "excellent scope" for gold purchases by the central bank, metals consultancy GFMS said on Wednesday12 April.
More hefty gains in gold price ahead?
This article published on Thursday 13 April looks at the possibility of a further strong increase in the gold price. Among the key factors is a belief that central banks are becoming more friendly to gold, it says.
Russia signs agreement on reserve management
The Central Bank of Russia is implementing treasury and asset management software from London-based Trema to support its reserve management operations.
China dollar reserves pose risk - report
China's foreign exchange reserves are exposed to heavy risks of US dollar fluctuations but there are no other alternatives now that can replace the greenback, a researcher said in an article published in the China Business News.
Will IMF set sights on managing global reserves?
This article published on Saturday 8 April says that some indication of the IMF medium-term strategy report's likely content can be gleaned from a series of speeches given over the past two months by de Rato, and deputy managing directors Takatoshi Kato…
NY Fed's Geithner on risk management challenges
In the speech 'Risk management challenges in a changing financial environment' given on 5 April Timothy Geithner of the Federal Reserve Bank of New York said economic stability should not make investors complacent to the possibility of future financial…
Orr on bank capital, risk management & the economy
In the speech 'Bank capital, risk management and the economy' given on 10 April Adrian Orr of the RBNZ said the Reserve Bank is working intensively on the implementation of the new international framework for bank capital adequacy, known as Basel II.
Interview with ADB's Kuroda
In an interview published on Sunday 9 April, the President of the Asian Development Bank Haruhiko Kuroda said Asian countries, including China, already have ample foreign exchange reserves and there is no need for them to accumulate more.
China's forex reserves bring risks: ADB
A senior official at the Asian Development Bank said on Saturday 8 April that China could be accumulating too much foreign exchange reserves and should manage the associated risks carefully.
Comment: The IMF's challenge
Raghuram Rajan, the IMF's economic counsellor and director of research, said in a speech Monday 10 April at the Kiel Institute that "as the reserves of advanced emerging markets fall, they may well want to re-engage with the Fund". Behind these remarks…
Perspectives on low global interest rates
This IMF Working Paper, published March 2006, looks at the dramatic decline in global real interest rates in recent years from a historical perspective and examines the various factors that may account for this trend.
Gulf states buy euros with their reserves
According to this article published on Wednesday 5 April, a diversification of Middle East reserves could have a negative impact on Washington's ability to finance its debt.
Devakula: Efficiency enhancements, risk management
In the speech 'Efficiency enhancements and risk management' given on 16 March M R Pridiyathorn Devakula of the Bank of Thailand said one cannot simply reduce risks by relying on risk management process alone.
Should GCC states diversify reserves?
According to the article 'Should GCC states diversify reserves away from the US dollar?' published Tuesday 4 April, the discussion among GCC central banks about diversifying away from the US dollar comes at a time when the greenback has already devalued…
Brazil to keep building reserves - Meirelles
Brazil's central bank will keep buying U.S. dollars in the currency market in a bid to build up international reserves, central bank President Henrique Meirelles told reporters.