The changing composition of official reserves
The way in which official reserves are managed is changing. Data compiled by the BIS on deposits placed by monetary authorities with commercial banks confirm that reserve managers approach diversification cautiously. Nevertheless, they have steadily shifted into higher-yielding, higher-risk instruments. The currency composition of reserve holdings is still highly concentrated in US dollars and euros, but the shares of some other currencies have changed significantly over time.
Volume (Year): (2006)
Issue (Month): (September)
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- Robert McCauley, 2005. "Distinguishing global dollar reserves from official holdings in the United States," BIS Quarterly Review, Bank for International Settlements, September.
- Edwin M. Truman & Anna Wong, 2006. "The Case for an International Reserve Diversification Standard," Working Paper Series WP06-2, Peterson Institute for International Economics.
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