Reserves
The StabFund: a look at the inner workings of a 'bad bank'
Marcel Zimmermann and Zoltan Szelyes explain how the Swiss National Bank managed to strengthen the country’s largest financial institution at the height of the crisis by creating a bad bank.
SNB records $8.7 billion loss on Swiss franc gains
Swiss National Bank reports loss of Sfr8.46 billion for first three quarters of the year after Swiss franc appreciated against major currencies
Using gold to restore currency stability
Gold has many advantages as a benchmark of market expectations, Robert Pringle argues.
Fund nears the end of gold sales
IMF has sold majority of the gold set aside for disposal; analysts expect Fund will complete sales by end of the year
Broaden renminbi use to curb dollar influence: ex-HKMA’s Yam
Former Hong Kong Monetary Authority chief executive Joseph Yam calls for more renminbi internationalisation; says Hong Kong a vital portal in the effort
Iran makes substantial shift into gold: reports
Tehran news agency reports central bank governor Mahmoud Bahmani as saying around 15% of foreign exchange reserves have been moved into gold
Strong dollar sees RBA book record A$3.8 billion hit
Reserve Bank of Australia reports biggest ever loss of A$3.8 billion as foreign exchange reserves slide on domestic currency strength
RBI looks at crisis impact on central banks’ balance sheets
Reserve Bank of India study shows financial crisis led to dramatic change in composition of central bank balance sheets
Korea’s Kim hints at move into gold: reports
Bank of Korea governor Kim Choong-soo tells lawmakers central bank must cautiously consider increasing gold reserves
US Treasury stalls on decision to name China ‘manipulator’
US Treasury says it will delay publication of report on exchange rates until after G20 gathering in Seoul
RBNZ reports NZ$111m loss
Reserve Bank of New Zealand makes loss after appreciation in New Zealand dollar, slashes dividend payment to government
BIS on renminbi management
Bank for International Settlements research results consistent with the renminbi having been managed in 2006-08 against a basket of currencies
BIS on offshore domestic currency use
Bank for International Settlements paper says monetary stability risks from offshore credit growth can be managed through prudent policy
IMF on reserve adequacy in The Gambia
Research suggests reserves equal to the value of between 4.5 and seven months of imports are needed
Gold to break $1,300 barrier: GFMS
Gold forecast to rise above the $1,300 mark, research body says; central banks becoming net buyers a factor
S&P boosts Argentine rating one notch
Credit ratings agency Standard and Poor’s lifts Argentina’s sovereign credit rating from B- to B; cites strong economic recovery and solid debt management strategy
IMF sells ten tonnes of gold to Bangladesh Bank
Sale to Bangladesh Bank takes total Fund gold sales to 310 tonnes
FX market going global: BIS
Bank for International Settlements’ triennial survey of foreign exchange markets shows decline in prevalence of local transactions, dollar and sterling
Debt to reserve ratio key indicator of country default: World Bank research
World Bank paper identifies ratio of debt to reserves as most important indicator of sovereign default
India and China set to drive global demand for gold
World Gold Council says demand for gold jewellery in India and China will ensure robust gold market in 2010
RBI’s income plummets on low returns
Reserve Bank of India’s Annual Report shows income in past fiscal year dropped as rates of return fell worldwide; central bank expects temporarily weakened output path
Southern Sudan on the brink of collapse: deputy governor
Central Bank of Sudan deputy governor says Khartoum has starved south of foreign currency, leaving it two weeks shy of economic crisis; oil spat thought to be linked to independence referendum
Russia inches back toward dollar assets
Bank of Russia report shows percentage of dollar assets increased by end 2009, reversing trend set in two previous years; central bank also upped sovereign debt holdings and risk appetite declined
BoJ on dollar’s “exorbitant privilege”
Bank of Japan research notes that with great privilege comes great responsibility