Reserves
Bank of Israel director says central banks can 'overdo' liquidity
Andrew Abir identifies difficulty in providing the right amount of liquidity; says the risk of impairing market function was one worth taking
IMF paper says competition is a motive for forex intervention by emerging markets
Study examines activity of emerging market economies in foreign exchange markets; finds competitiveness can be a motivating factor
Nalm 2013: Bank of Israel’s Abir challenges credit risk assumptions in reserve management
Head of market operations Andrew Abir asks how bonds and equities can be consolidated under one reserve management framework; insists credit rating agencies remain valuable
Nalm 2013: Delegates debate reigniting European ABS market
Participants at Central Banking event discuss mechanisms to get European financial markets off life support; particular focus on asset-backed securities
Nalm 2013: National Bank of Austria analyst sets out currency diversification strategy
Portfolio analyst details models and analysis used to determine National Bank of Austria’s currency portfolio; shows diversification gives better risk/return
Nalm 2013: Debate rages over how to manage expanding reserves
Central banks enter into new asset classes and alternative currencies but Bank of Israel’s Andrew Abir rejects value of renminbi as a reserve currency
Gold should dominate RMB in central bank reserves, says WGC
World Gold Council encourages central banks – particularly in emerging market economies – to diversify into gold ahead of RMB and other ‘alternative’ currencies
Renminbi internationalisation to get boost from 60m overseas Chinese
Use of the renminbi by the 60-million strong Chinese diaspora will accelerate the currency’s use in global trade and reserves management. By Gary Smith.
Perception of EM risk reduced by central bank safety net, say investors
Large foreign exchange reserves held by emerging market central banks makes investing in those countries attractive, say panellists at FX Invest Europe
Solid financial accounts can help central banks meet their mandates – CBP roundtable
The manner that central banks manage and present their financial accounts is becoming critical to them achieving their mandates, according to a CBP working group.
Riksbank at odds with proposals to limit capital, analysts say
Proposals released that would halve the size of the Riksbank’s balance sheet; analysts say they clash with central bank policy and are unlikely to be adopted
Central Bank of Iceland suspends its foreign currency purchases
Iceland's central bank seeks to mitigate an ‘undesirably large’ depreciation of the Icelandic króna
RBI report condemns ‘excessive’ gold demand
Reserve Bank of India working group recommends gold imports are reduced to protect the country’s balance of payments and currency reserves
Central Bank of Egypt grapples with falling currency
Egyptian pound continues fall after currency auctions by central bank; follows rating downgrade as concerns raised over impact of political turmoil and weakening economy
IMF figures show fall in euro’s share of foreign exchange holdings
Euro-denominated foreign exchange reserve currency claims fell by $8.19 billion in the third quarter of 2012 as developing nations diversify their holdings
Riksbank reinforces foreign currency reserves
Sveriges Riksbank will borrow $15 billion of foreign currency from Swedish National Debt Office to compensate in part for increasing IMF commitments
Korea’s Kim calls for an end to currency reserves hoarding
Bank of Korea governor Choongsoo Kim says use of multi-layered financial safety nets would reduce the need for emerging economies to hoard foreign currency reserves; calls for a global effort
Annual report highlights transformative year for Bank of Mauritius
Bank of Mauritius experimented with new policy measures and a redesigned monetary policy committee in the past year
Central bank gold purchases slow in third quarter
Growth of net central bank gold holdings in third quarter remains positive but decelerates compared with similar period in 2011; year-to-date holdings up 9%
Infrastructure bond should fund Africa’s growth, urges ADB president
Donald Kaberuka says Africa needs innovative financing to drive an economic transformation and achieve more inclusive development
Nigeria builds buffers to brace against uncertainty
Bank of Nigeria minutes show commitment to increase external reserves buffer; inflation expected to be lower than forecast
Reserve Bank of Australia annual report reveals government dividend
Annual report for 2011 details profits of more than a billion Australian dollars, nearly half of which will be paid to the government as a dividend
Reserve Bank of Fiji delivers positive economic review
Latest economic review reveals generally optimistic developments in Fijian economy; growth and inflation expected to meet projections
Bundesbank paper investigates how relationships impact interbank lending
Bundesbank study reveals importance of good relationships to the liquidity of interbank markets; private information determines banks' willingness to lend and the price of their loans