Russia cuts back on Fannie and Freddie paper

The Central Bank of Russia has markedly reduced its holdings of Fannie Mae and Freddie Mac paper since the start of the year, a senior official confirmed on Monday.

Reuters, a news agency, reported that Russia held about $100 billion in the government-sponsored entities and the Federal Home Loan Bank at the start of 2008 but that Alexey Ulyukaev, a first deputy chairman at the central bank, had said that the institution now held less than $50 billion in Fannie and Freddie. He did not comment on

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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