Reserves
Emerging currencies face uphill battle for true internationalisation
BIS report published alongside major EME survey also warns the costs of an international currency might outweigh the benefits
Sri Lankan central bank strikes investment deals with India and China
Central Bank of Sri Lankan governor Ajith Cabraal signs agreements with Indian and Chinese counterparts in effort to ‘diversify reserves management’
Renminbi fails two out of five key tests to be reserve currency, says Malaysian deputy
Trading prowess, official support and confidence in China are heavily in renminbi’s favour, but there are issues over the country’s financial market development and role as an exporter of capital
End of Bretton Woods has helped dollar reserves, says ECB paper
The collapse of the Bretton Woods System has resulted in significant upheaval of currency reserve trends, says an ECB working paper co-authored by Barry Eichengreen
Evaluating enhancements to reserve management
David Smart, managing director of strategic advisory, sovereign & institutional funds, Franklin Templeton Solutions, discusses developments in reserve management over the past 25 years
Sovereign wealth fund could help Macao overcome gambling dependency, IMF says
Central bank could manage new sovereign wealth fund as Macao authorities seek higher return on booming reserves; IMF encourages idea in staff report
Argentina default may threaten central bank reserves
Developments this week could spell trouble for central bank; analyst says markets have overlooked Argentina's ‘heavy' debt repayment schedule going into next year
SNB reports profit of almost $18bn for first half of the year
Swiss National Bank recovers from $10bn loss in 2013; profit on foreign currency positions amounts to Sfr 12.6bn, while gold holdings see Sfr 3.5bn valuation gain
Kazakh central bank fund seeks advisers on managing $110bn reserves
Consultants sought to help direct country's reserve management strategy and SWF's growth in the alternative assets space
Central Bank of Turkey tells lenders to drop all euros from reserve holdings
Only dollars will be allowed as a substitute for liras in required reserves, central bank announces; lenders forced to sell €12.7 billion
Sovereign bonds offer ‘return-less risk' says GIC's head of fixed income
The returns on offer from the biggest sovereign bond issuers offer too little return even for the small level of risk associated, says GIC's managing director in charge of fixed income
RMB inclusion in SDR would open way for investment by advanced economies
More advanced-economy central banks would join Swiss National Bank and invest in onshore renminbi assets if the currency was included in SDR
Nigerian central bank welcomes drop in depletion of foreign reserves
Communique says reserves accumulation must improve to provide buffer for fiscal operations, in part by greater domestic production of foodstuffs
Philippines should divert reserves to form a SWF, says BSP’s Medalla
Senior Central Bank of the Philippines official calls for excess reserves to be siphoned off into a new sovereign wealth fund
SNB strikes deal to invest in Chinese bond market
Thomas Jordan and Zhou Xiaochuan establish new swap line in deal, which also permits the SNB to invest up to $2.4 billion in renminbi-denominated assets
ECB sees no clear rival to US dollar as global currency
ECB article says a ‘multi-polar’ system with ‘several international currencies playing consequential roles’ is a more likely outcome than an out-and-out replacement for the dollar
Trinidad governor threatens senator with legal action over ‘defamatory' comments
Jwala Rambarran takes action over claims he is ‘playing dolly house' with foreign reserves; says he will seek ‘substantial damages' unless public apology is issued
OECD warns taper hits developing-world growth prospects
Paris-based club of advanced economies warns taper will combine with declining commodity cycle and anaemic eurozone growth to hurt the growth prospects of developing countries
Should central banks review their investment guidelines as monetary policy normalises?
Central Banking editor Chris Jeffery talks to Charles Goodhart, Tim Young and Scott Dickinson about the strategies reserve managers can deploy ahead of a tightening in monetary policy
Questions mount over Bank of Ghana's involvement in airlift of $3m football bonus
Experts say central bank must have been aware of $3m government operation that breached forex controls imposed by the bank in February
RBNZ weighs ‘European presence' to aid reserve management
Reserve Bank of New Zealand says it will review whether a full-time European presence will improve returns on forex reserves; outlines plans to replace vaults
Reserve managers look to exit bonds sooner as global ‘taper' looms
Fed taper has reserve managers fretting, new Central Banking Publications survey of 69 central banks shows; ETFs are gaining traction as reserve asset class
Reserve managers to ‘reconnect’ with their central bank, says Bill Allen
Former BoE official says central bankers will become ‘more conscious’ of the relationship between reserve management activities and financial stability issues in Central Banking On Air debate
Czech paper aims to overcome ‘model uncertainty' over motives behind international reserves
Czech National Bank economists use Bayesian model averaging to suss out the chief motivations of holding international reserves