Survey of Reserve Managers

Survey of Reserve Managers PDF Author: Aideen Morahan
Publisher: International Monetary Fund
ISBN: 1484389557
Category : Business & Economics
Languages : en
Pages : 34

Get Book Here

Book Description
This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted to the crisis to date. The survey also aims to understand how reserve managers arrive at their strategic asset allocation and how they operate their risk management frameworks in practice. Some of the key themes that emerge from the survey include potential procyclical and counter cyclical behavior by reserve managers, increased focus placed on returns and wide variability across countries in how the currency composition of reserves is derived.

Survey of Reserve Managers

Survey of Reserve Managers PDF Author: Aideen Morahan
Publisher: International Monetary Fund
ISBN: 1484389557
Category : Business & Economics
Languages : en
Pages : 34

Get Book Here

Book Description
This paper reports in detail on a survey that was circulated to reserve managing central banks of IMF member countries in April 2012. The survey aims to gain further insight into how reserve managers have reacted to the crisis to date. The survey also aims to understand how reserve managers arrive at their strategic asset allocation and how they operate their risk management frameworks in practice. Some of the key themes that emerge from the survey include potential procyclical and counter cyclical behavior by reserve managers, increased focus placed on returns and wide variability across countries in how the currency composition of reserves is derived.

Central Bank Reserve Management Practices

Central Bank Reserve Management Practices PDF Author: Reserve Advisory and Management Partnership
Publisher:
ISBN:
Category :
Languages : en
Pages :

Get Book Here

Book Description


Central Bank Reserve Management Practices

Central Bank Reserve Management Practices PDF Author: World Bank Group
Publisher:
ISBN:
Category :
Languages : en
Pages :

Get Book Here

Book Description
The World Bank Treasury's Reserve Advisory and Management Partnership (RAMP) conducted its third survey on reserve management practices in 2021. One hundred and nineteen central banks, from different regions, income groups, and reserve levels, contributed to the survey, which included questions on investment policies, asset allocation, risk management, environmental, social, and governance (ESG) investing, and business continuity. The pandemic underlined the importance of safety and liquidity for reserve portfolios. The authors find that central banks maintained their conservative investment approach, focusing on high-quality fixed-income assets denominated in US dollars and euros. At the same time, against a backdrop of ultra-low interest rates in major economies, we also observe that central banks continued, in their search for yield, to gradually diversify their reserves into more currencies and asset classes within fixed income. Survey results also indicate that central banks' risk management practices show room for improvement, especially in institutions that have expanded into nontraditional asset classes, including those that invest in corporate credit. Meanwhile, reserve managers could further enhance internal risk and reporting practices to strengthen oversight. ESG investing is still rarely adopted by central banks, and fewer than a quarter of respondents have included ESG objectives in their investment policy. Crucially, this is largely explained by the focus of reserve portfolios on high-quality fixed-income assets, among which ESG instruments and strategies are rarely encountered. We learn that, in order to maintain business continuity, central banks implemented home-based work in 2020, but technological drawbacks and cybersecurity concerns tended significantly to obstruct any ambition to attain fully remote reserve management operations. The paper carries the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development and World Bank and its affiliated organizations or those of the Executive Directors of the World Bank or the governments they represent.

Inaugural RAMP Survey on the Reserve Management Practices of Central Banks

Inaugural RAMP Survey on the Reserve Management Practices of Central Banks PDF Author: Reserves Advisory and Management Program
Publisher:
ISBN:
Category :
Languages : en
Pages :

Get Book Here

Book Description


Procyclicality in Central Bank Reserve Management

Procyclicality in Central Bank Reserve Management PDF Author: Jukka Pihlman
Publisher: International Monetary Fund
ISBN: 1455201332
Category : Business & Economics
Languages : en
Pages : 29

Get Book Here

Book Description
A decade-long diversification of official reserves into riskier investments came to an abrupt end at the beginning of the global financial crisis, when many central bank reserve managers started to withdraw their deposits from the banking sector in an apparent flight to quality and safety. We estimate that reserve managers pulled around US$500 billion of deposits and other investments from the banking sector. Although clearly not the main cause, this procyclical investment behavior is likely to have contributed to the funding problems of the banking sector, which required offsetting measures by other central banks such as the Federal Reserve and Eurosystem central banks. The behavior highlights a potential conflict between the reserve management and financial stability mandates of central banks. This paper analyzes reserve managers’ actions during the crisis and draws some lessons for strategic asset allocation of reserves going forward.

Bendhu Scientific Reserve Management Plan

Bendhu Scientific Reserve Management Plan PDF Author: New Zealand. Department of Lands and Survey
Publisher:
ISBN:
Category :
Languages : en
Pages : 27

Get Book Here

Book Description


Carter Reserve Management Plan

Carter Reserve Management Plan PDF Author: New Zealand. Department of Lands and Survey. Wellington District Office
Publisher:
ISBN:
Category : National parks and reserves
Languages : en
Pages : 69

Get Book Here

Book Description


Turakirae Head Scientific Reserve Management Plan

Turakirae Head Scientific Reserve Management Plan PDF Author: New Zealand. Department of Lands and Survey
Publisher:
ISBN:
Category : Turakirae Head Scientific Reserve (N.Z.)
Languages : en
Pages : 30

Get Book Here

Book Description


Central Bank Governance

Central Bank Governance PDF Author: Tonny Lybek
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 58

Get Book Here

Book Description
This paper identifies issues to consider when designing the structure, size, and composition of the governing boards and management of a central bank. While central bank autonomy and accountability are generally accepted as good practice, there is less consensus regarding the structure, size, and composition of the governing bodies. This paper surveys 101 central bank laws covering 113 countries and classifies the governance structure according to degree of autonomy, functions performed, size, composition, appointment procedures, and terms of the members. The paper concludes that an appropriate balance must be struck between the functions of the governing entities, simplicity, and country specific factors. The functions of the various bodies follow logically if a greater appreciation exists for the type of autonomy delegated to the central bank.

Grove Scenic Reserve Management Plan

Grove Scenic Reserve Management Plan PDF Author: New Zealand. Department of Lands and Survey
Publisher:
ISBN:
Category :
Languages : en
Pages : 8

Get Book Here

Book Description