Download This PaperThe Changing Composition of Official Reserves
14 Pages Posted: 9 Jun 2012
Date Written: September 1, 2006
Abstract
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.
JEL Classification: E58, F31, G15
Suggested Citation: Suggested Citation
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