Reserves
HKMA's Topping on liquidity risk management
In a speech on 'Liquidity risk management: A regulator's view' given on 16 November, Simon Topping of the Hong Kong Monetary Authority said central to effective liquidity risk management is a bank's ability to maintain adequate liquidity in the event of…
Meirelles says Brazil has sufficient reserves
The central bank of Brazil is in no rush to buy dollars because its foreign reserve level is sufficient, bank President Henrique Meirelles said.
Brazil central bank denies govt buying dollars
Afonso Bevilaqua, economic policy director at Brazil's central bank, denied that the treasury is seeking to stem the rise of the Brazilian real by buying dollars on the spot market, official news agency Agencia Brasil reported.
Bank of France to sell some gold reserves
The French Finance Ministry said in a statement on Friday 19 November that discussions on the sale of a portion of France's gold reserves have been finalised with the Bank of France.
Caruana on Basel II - Emerging market perspectives
In a speech on 'Basel II - Emerging Market Perspectives' given on 11 November, Jaime Caruana of the Banco de Espaa and Chairman of the Basel Committee said Basel II is intended to reinforce our focus on risk and to encourage all of us to improve our…
S. Africa's Plenderleith on the gold market
In a speech on 'Developments in the gold market' given on 26 October, Ian Plenderleith of the South African Reserve Bank said with gold occupying such a powerful place in our emotions, I am confident that, provided we take advantage of the opportunities,…
Joint Forum report on credit risk transfer
The Joint Forum has released for consultation a report prepared by its working group on risk assessment and capital entitled Credit Risk Transfer. The report responds to a request by the Financial Stability Forum (FSF) to undertake a review of credit…
BIS's Knight on managing evolving financial risk
In a speech on 'Markets and institutions: Managing the evolving financial risk' given on 14 October, Malcolm Knight of the BIS said trends in the financial system have brought about a transformation in the nature of financial risk. These trends have put…
Illarionov says Russia diversifying fx reserves
By selling US dollars, securities and assets denominated in the US currency, Russia is diversifying its currency reserves, which is in line with the policy pursued by the Central Bank of Russia, Andrei Illarionov, adviser to the Russian President on…
World central bank gold holdings down 3.2%
Analyst John C Tumazos of Prudential Financial said on Tuesday 2 November that world central bank gold holdings have declined by 3.2% since November 2002.
A new approach to liquidity management
Management of its foreign exchange exposure by a multinational firm provides a template for managing official reserve assets, argues Robert Z. Aliber.
Zimbabwe to tap huge platinum reserves
Reserve Bank of Zimbabwe governor Gideon Gono said over the weekend that the government was in talks with foreign investors to tap huge platinum reserves valued at 290 billion US dollars.
Report says Argentina to relax forex controls
The Argentine central bank will try gradually to lift controls imposed on foreign exchange transactions, daily La Nacion reported, without naming sources.
Putin positive on Russian economic situation
Russian President Vladimir Putin is positive about the economic situation in Russia. Interfax in Moscow quoted Putin as saying the economy was developing "very energetically".
Renewed central bank gold sales not disruptive
A report by London metals researcher GFMS suggests that renewed selling of gold by central banks is unlikely to be a major disruptive factor in the market, Business Day reported on Tuesday 19 October.
Trinidad & Tobago central bank selects Finance KIT
Trema, a leading provider of strategic software solutions for the financial industry, announced on Friday 15 October that the Central Bank of Trinidad and Tobago (CBTT) in Port of Spain has selected the Trema solution, Finance KIT, to support its foreign…
The lobster trap of central banking
According to an article published this week, central banking is a gigantic lobster trap. It is set by the commercial banking industry and the government, which grants the central bank a monopoly over the control of the monetary reserves (government debt)…
The fight over Venezuela's central bank profits
Last weekend Venezuela's President Chavez once again attacked the central bank over the amount of "foreign exchange profits" it should turn over to the government. With Chavez threatening to go to the Supreme Court on the issue, this article suggests the…
Venezuela's central bank under threat from Chavez
Venezuela's President Hugo Chavez has repeated threats to the central bank that if it doesn't allow him to use part of its international reserves to fund his social programs for the poor, he will get a Supreme Court order to force it.
RBI chief Reddy sees oil price as concern
The Reserve Bank of India Governor YV Reddy said on Thursday 7 October that the sharp rise in global oil prices was a matter of concern but India was well equipped to handle the situation due to sufficient forex reserves.
UK seeks stability for gold in IMF revaluation
Any revaluation of International Monetary Fund (IMF) gold reserves would have to be done in a way which would preserve gold market stability, British Chancellor of the Exchequer Gordon Brown said on Monday 4 October.
Switzerland's last tranche of gold sales
In spring 2000, the Swiss National Bank began selling that part of the gold reserves no longer required for monetary policy purposes. The sales - which will total 1,300 tonnes - have to date been effected according to the agreement on gold sales…
Argentina's repayment dates to IMF extended by 1yr
Argentina's debt repayment dates to the International Monetary Fund were extended by a year on Friday, the agency said.
Korea's possible central bank deficit
The Bank of Korea is highly likely to register a deficit this year for the first time in a decade, according to this article. The Ministry of Finance should refrain from meddling too much in the market and let the central bank do its job of stabilising…