Cover IMF Working Papers
Survey of Reserve Managers: Lessons from the Crisis
Author: Aideen Morahan and Mr. Christian B. Mulder
Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 099
Language:
English
Publication Date:
08 May 2013
DOI:
https://doi.org/10.5089/9781484308486.001
ISBN:
9781484308486
ISSN:
1018-5941
Pages:
34
Keywords:
WP; reserve manager; central bank; lower income country; yield; International Reserves; Foreign Currency Reserves; Official Reserves; currency composition; excess reserves; flight to quality; mechanisms well; currency risk; reallocation strategy; Currencies; Credit risk; Credit ratings; Reserves management; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund

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