Front Matter
  • 1 https://isni.org/isni/0000000404811396, International Monetary Fund

Front Matter Page

Monetary and Capital Markets Department

Contents

  • Abstract

  • Glossary

  • I. Introduction

  • II. Summary of Key Findings

  • III. Profile of Respondents

  • IV. Detailed Responses

    • A. Crisis Response

    • B. Strategic Asset Allocation

      • Currency Composition

      • Liquidity and Interest Rate Risk

      • Asset Classes/Credit Risk

    • C. Risk Management, Benchmarks, and Rebalancing

  • References

  • Tables

  • 1. Sample Characteristics of Respondents

  • 2. Distribution by Continent

  • Figures

  • 1. The Trend in Global Reserves

  • 2. Ten-year Government Bond Yields for Selected Advanced Countries

  • Box 1. Procyclicality—Reserve Management vs. Financial Stability

Glossary

AC

Advanced country (WEO classification)

ALM

Asset and Liability Management

BRIC

Brazil, Russia, China and India

COFER

Currency Composition of Official Foreign Exchange Reserves

EM

Emerging Market

EMC

Emerging Market Country

FX

Foreign currency

GFSR

Global Financial Stability Report

HTM

Hold to Maturity

IFRS

International Financial Reporting Standards

ISDA

International Swaps and Derivatives Association

LIC

Low Income Country (World Bank classification of countries with per capita income of less than $ 3975)

MIC

Middle and other (i.e. not advanced) high income countries (over $3975 per capita income)

MTM

Mark to Market

REITs

Real Estate Investment Trusts

SDR

Special Drawing Right

SWF

Sovereign Wealth Fund

TIPS

Treasury Inflation Protected Securities

WEO

World Economic Outlook

Currencies

AUD

Australian dollar

CHF

Swiss franc

DKK

Danish krone

EUR

Euro

GBP

British pound

JPY

Japanese yen

NK

Norwegian krone

NZD

New Zealand dollar

SEK

Swedish krona

USD/US$

U.S. Dollar

Survey of Reserve Managers: Lessons from the Crisis
Author: Aideen Morahan and Mr. Christian B. Mulder