Reserves
Central banks mull securities lending as response to low yields
Institutions are proving more willing to experiment as conservatism threatens to erode their reserves
Implementing a holistic and dynamic risk budget
The National Bank of Denmark has implemented a dynamic risk budget that takes the bank’s unavoidable policy risks as the point of departure. The new approach has led to a reassessment of investment exposures and how they are rebalanced over time and…
Angolan banks given new forex responsibilities amid shortage
Requests for foreign currency now must be submitted to commercial entities instead of central bank, with the exception of large imports of food and medicines
World Gold Council launches gold accounting framework
Guidance aims to help central banks harmonise the treatment of gold in their accounts in a way that meshes with broader reserves accounting
Central banks built up gold reserves in 2017
2017 sees eighth consecutive year of net purchases, though only a handful of central banks made substantial changes
Venezuela’s new forex auction sees bolivar plummet
Latest auction sees currency devaluate by 99% from heavily subsidised exchange rate
Markets should not panic over reserve levels – Bajan governor
Haynes says level of reserves has reached new all-time low at 6.6 weeks of imports, but central bank is not considering a devaluation
Global custodian of the year: BNY Mellon
The US asset specialist has made strong progress in its effort to offer a seamless overlay of its disparate legacy systems, while also providing improved training to official institutions
HKMA exchange fund clocks 10-year high returns
Returns driven by strong global economy and financial markets; 7.1% figure highest since 2007
Asset manager of the year: BlackRock
BlackRock delivered some innovative new products and a highly regarded training scheme to build on its already strong foundation in reserve management services
Central Banking Awards: Perng Fai-nan recognised for lifetime achievements
The first four 2018 Central Banking Awards are unveiled – banknote and currency management, consultancy, innovation in reserve management, and lifetime achievement
Lifetime achievement award: Perng Fai-nan
Pre-emptive financial reforms combined with flexible monetary and forex policies have enabled Taiwan’s veteran governor to provide economic stability, even during turbulent times
Innovation in reserve management: HSBC
The global bank stepped in during Egypt’s economic crisis, arranging a private funding package that proved instrumental in turning around the country’s fortunes
Iran makes fresh attempt to free frozen assets
Central bank files complaint against Clearstream demanding assets worth $4.9 billion plus interest
PBoC releases liquidity ahead of new year celebrations
RRR cut is expected to release liquidity to counter the seasonal tightening around Chinese new year
Bundesbank to begin investing in renminbi
Executive board member says the bank is considering investing in other foreign currencies
Morocco introduces a more flexible exchange rate
The central bank introduces a daily band of 5% for the dirham to trade against major currencies
Fed economists tackle question of optimal balance sheet size
Cutting balance sheet would significantly reduce interest rate risk, economists find, as Fed acknowledges lower profits due to interest payments
SNB expects record profits for 2017
Swiss central bank benefits from high asset prices and a weaker franc
Balancing reserves’ effectiveness and transparency
Why do countries accumulate more and more reserves if they know intervention may prove ineffective? Iris Yeung speaks to Canada’s Eric Wolfe
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Cambodia shortens duration of liquid reserves ahead of election – reserves chief
De-dollarisation and lack of interbank market make forex intervention the only real policy tool left for National Bank of Cambodia
Qatar Central Bank launches legal probe into manipulation
Central bank appoints law firm, as governor accuses blockading countries of manipulating the riyal and local markets
Rupee drops as SBP tackles reserves decline
Pakistani rupee down nearly 4% after central bank triggers “market-driven adjustment”