Asia-Pacific
Banks receive widely varying volumes of damaged cash
Central banks share data on values and volumes of mutilated currency
Most jurisdictions have not withdrawn denominations in past five years
Thirty-two central banks have an average of six denominations in circulation
Central bank boards most often make decisions on banknote imagery
Banknotes image types vary from recognised figures to natural phenomena
Majority of central banks have access-to-cash policies
More than two-fifths require a minimum level of cash services from banks
Counterfeit banknotes removed from circulation average $425,000
UV ink and intaglio printing are most common security features
Banknotes generally have at least one aid for visually impaired
Raised inks are most common feature, followed by making denominations different sizes
Few central banks use big data tools to forecast currency demand
Forecasting is very common, while few expect big changes in currency needs for 2023
Banknote contagion measures reduced in 2022
Participating institutions say coronavirus has shaped currency demand
Paper-based banknotes still outnumber polymer substrates
Most banks do not plan adoption of new substrates
Cash usage drops further to an average of 42.5% across jurisdictions
Just one African institution and a European jurisdiction experience growth in cash payments
Fewer central banks report climate strategy
Incineration still most common practice among institutions recycling banknotes
Most central banks plan no new banknotes in near future
Fewer than a quarter of banks plan new notes in next five years
Share of reserve managers investing in green and social bonds declines
Share of portfolios allocated to these assets grow modestly
Average central bank equity allocations at 11.9%
Despite higher volatility, high income central banks increase their investments in equities
Asset diversification and staff training main goals for external contracts
All non-high income central banks aim to offer training to staff, high income jurisdictions focused on diversification and market intelligence
Most central banks expect sanctions on Russia to have a long-term effect
Trend is weaker in Europe than in the Americas, Asia-Pacific and Africa
Over 90% of central banks trim duration as protection against inflation
Fewer institutions increased US Treasuries (18.75%), reduced exposure to unconventional assets (6.25%)
Central banks’ coverage ratio drops by 23%
Reserves buffers to cover monthly imports decline to 6.9 months
Senior BIS official highlights risks to Asian economies
Chief Asia-Pacific representative warns of increased debt levels in Asia
Staff salaries at reserves departments increased 17.6% from last year
Total staff numbers declined by 10% to 27
More central banks expand existing liquidity swap lines
More than 23% of participating countries gained access to IMF facilities over past year
Share of central banks screening ESG risks declines slightly
Central banks in Europe in top slot for including ESG criteria on their benchmarks
Central banks divided on how Russia sanctions will hit reserve currencies
Non-European central banks more likely to expect a growing role for renminbi in reserves portfolios
Most central banks will not alter diversification due to high inflation
Over 63% of central banks do not plan changes, almost 27% are discussing modifications, and close to 10% have already implemented them or plan to do it