Reserves
Improved political environment lends support to Lebanese pound
As new government is formed, investors become more willing to sell dollars and buy pound
Colombia purchases $1 billion from government
Operation aims to support plan to enhance international reserves portfolio
Venezuela to sell 15 tonnes of gold to UAE, reports say
US senator warns of sanctions if UAE co-operates with Maduro regime
Central bank gold purchases soar to highest level since 1971
Russia, Turkey and Kazakhstan accumulated the most gold in 2018
Bank of England kept gold reserves from Venezuelan government, reports say
BoE declines to comment on reports as US government ramps up pressure on Maduro regime
Risk manager: Saudi Arabian Monetary Authority
A multi-year overhaul of the Saudi central bank’s risk architecture has come to fruition, resulting in radical changes in behaviour
Professional services initiative: World Gold Council
Having identified seven different ways of accounting for monetary gold among 70 central banks, the WGC developed guidance to bring greater consistency to accounting practices
Treasury systems initiative: Ion Treasury
Ion’s acquisition of Openlink in 2018 has boosted its central bank and agency clients to 65, with a new ECB contract being a ‘jewel in its crown’
UAE deposits $3 billion with State Bank of Pakistan
Deposit comes as Pakistan’s foreign exchange reserves dwindle and IMF talks continue
Nicaragua’s central bank reserves fall 41%
Steep slide due to attempts to stem outflows of currency after political crisis
Brexit unlikely to affect sterling’s reserve currency status
No-deal scenario could put major downward pressure on the currency
Central Banking Awards 2019: first winners announced
Reserve manager, initiative, asset manager, innovation in reserve management, global markets, custody and specialised lending awards unveiled
Reserve manager of the year: Bank of Mexico
The Latin American central bank has adopted a forward-looking asset allocation strategy as well as embracing absolute return approaches
Global markets award: HSBC
HSBC’s global reach and expertise in emerging Asian markets has helped its long-term central bank clients develop more sophisticated reserve management strategies and move into new markets
Innovation in reserve management: BNP Paribas Asset Management
The asset manager developed new fixed income investment strategies in 2018 that have delivered strong returns and diversification for clients, while also offering practical training support
Custody initiative of the year: Citi
The US financial group used its global presence and technological edge in 2018 to deepen existing relations and obtain new mandates
PBoC makes record fund injection into financial system
Central bank pumps 570 billion yuan into system via open-market operations; move follows other measures to increase liquidity amid slowing growth
Bank of Israel calls on government to reduce deficit
Budget imbalance is forecast to reach 3.6% of GDP in 2019, official target is 2.9%
CBSL inks deal with RBI to boost reserves
Swaps deal will help maintain reserves while talks with the IMF resume, central bank says
US interbank market may not recover from QE – Fed paper
Authors warn shrinking the Fed balance sheet might not be enough to revive the market
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
The ‘great fintech wall of China’?
Deploying fintech wrappers could help to solve part of the People’s Bank of China’s capital control dilemma; trials possible in Greater Bay Area
Asset management: outlook for 2019
Monetary policy divergence, fears over protectionism and ESG are shaping reserve managers’ approach to 2019
Bahrain launches new repo instrument to foster interbank lending
Move comes after IMF directors back government’s attempt to diversify oil-based economy