Reserves
Study says euro could be top reserve by 2022
A paper published this week says the euro could replace the dollar as the world's dominant reserve currency within 20 years if Britain and other EU countries adopted the unit and the US currency continues to slide.
South Africa cuts dollar buying in July
Data released by the South African Reserve Bank (SARB) on Friday 5 August showed that it had lowered its dollar purchases in July.
Study says rupee almost pegged to dollar
A study presented to the Singapore Economic Review Conference on Friday 5 August suggests the Indian rupee is virtually pegged to the US dollar, despite the RBI saying it adopts a "managed float" for the currency.
IMF statement on G-8 proposal for debt relief
Rodrigo de Rato, Managing Director of the International Monetary Fund, issued a statement after Wednesday's meeting to discuss the proposal for HIPC debt cancellation agreed by the G-8 Summit on 8 July.
HKMA's Pang on the Retail Bond Issue
In a speech given on 18 July Peter Pang of the Hong Kong Monetary Authority said the upcoming Retail Bond issue has both Hong Kong Dollar and US Dollar denominated notes. This is the first time that the HKMC issues US Dollar notes.
Pressure on Asia to shift reserves
Asian central banks may have to shift up to $500 billion in reserves from dollars to euros and yen or risk foregoing $28 billion a year in potential revenue, according to a report published by Goldman Sachs Group.
MAS's Keat on managing risks, fostering innovation
In the speech 'Managing risks, fostering innovation' given on 14 July Heng Swee Keat of the Monetary Authority of Singapore said our aim is to maintain a supervisory framework that is robust and responsive.
Venezuela's president signs central bank reforms
Venezuelan President Hugo Chavez has signed a partial reform to the Central Bank Law to authorise investing six billion US dollars of hard currency reserves in social programs.
Venezuela passes foreign reserves reform bill
Venezuela's Congress on Tuesday 19 July approved a reform bill giving the government access to $6 billion of the nation's international reserves.
RBNZ's new bond lending facility
The Reserve Bank of New Zealand announced on Thursday 14 July that, as from 18 July 2005, it will operate a bond lending facility.
BoE paper: Bank loans versus bond finance
This Bank of England Working Paper published on 11 July develops a model to analyse the optimal choice between bank loans and bond finance for a sovereign debtor.
RBI's Reddy on challenges in a globalising economy
In a speech on 'Overcoming challenges in a globalising economy : Managing India's external sector' given on 23 June Y.V. Reddy of the Reserve Bank of India said the bank is unlikely to yield to pressures for significantly accelerating the pace of…
Russia ranked world's fifth in reserves
Russia ranks the world's fifth in terms of its international reserve assets (for gold and foreign exchange reserves), Prime Tass economic news agency reported on Friday 1 July.
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
Redrado says Argentina needs to reach IMF deal
Argentina's central bank governor Martin Redrado said on Sunday 26 June that it is important for the country to reach a loan accord with the International Monetary Fund to repay debt.
Fed's Olson on regulatory relief
In testimony on 'Regulatory relief' given on 21 June, Mark Olson of the Federal Reserve said that Congress should give the Federal Reserve more flexibility in setting reserve requirements and allow it to pay interest on balances held by depository…
Venezuela approves central bank reform law
Venezuelan lawmakers gave initial approval late Tuesday 21 June to a bill that would allow President Hugo Chavez to access up to $5 billion in reserves held by the central bank.
BOT denies spending $3-4bn on intervention
Bank of Thailand governor M.R. Pridiyathorn Devakula has conceded the central bank had intervened in the market to support the baht, but denied it had spent up to US$3-4 billion on intervention.
Central bankers meet to discuss growing deficits
On 20-21 June, Central Banking Publications hosted its first conference on Sovereign Asset and Debt Management, which brought together speakers and delegates from central banks, ministries of finance, debt offices and financial institutions.
Russia likely to float rouble within three years
The Russian central bank and the finance ministry have signalled that the government will allow the rouble to float freely within the next three years, the Interfax news agency reported.
Venezuela presents central bank reform proposals
Venezuela's government has submitted a legislative proposal that would allow President Hugo Chavez to tap reserves held by the central bank.
Korea postpones currency swap decision
The Bank of Korea (BOK) postponed a decision Wednesday 15 June on a proposal to lend some of its foreign exchange reserves to domestic banks through currency swaps, the central bank said.
Russia 'won't react to rumours' over euro
A senior Russian central bank official said on Monday 6 June that reports Italy and Germany could drop the euro were "just rumours," and said Russia has no intention of changing its reserves structure.
SARB has no reserve target - Plenderleith
The South African Reserve Bank plans to keep gradually building its foreign exchange reserves, Deputy Governor Ian Plenderleith said in an interview.