| RBS
Reserve Management Trends 2006 is the latest edition of the world’s
most authoritative review of central bank reserve management practice.
In
addition to a survey of 56 central banks, the 2006 edition contains
an independent analysis of recent trends in reserve management including
specialised articles by many of the leading experts in this field.
Published by Central Banking Publications, RBS Reserve Management
Trends 2006 is sponsored by The Royal Bank of Scotland.
Reengineering reserve management
The breakneck pace of reserve accumulation continues.
And while some analysts and practitioners regard this relentless
stockpiling as “business as usual”, central banks themselves
do not. In fact, as RBS Reserve Management Trends 2006 reveals,
reserve growth is triggering a profound recasting of the reserve
management role. The 56 central banks participating in the new survey,
which control assets of $1.9tn, confirm that reserve managers are
investing in riskier assets, changing their benchmarks, outsourcing
portions of their reserves and at the same time radically changing
their management techniques.
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What forces are driving these on-going changes?
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How in fact is central banks’ changing risk appetite manifested?
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What are the long-term implications of these profound changes?
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Is the global monetary system increasingly divided into currency
blocs?
These
are the questions the 2006 survey of central bank reserve managers
seeks to answer. Key topics explored by central banks in their detailed
(but anonymous) responses include:
- How
central banks use external managers;
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Which “new” assets central banks have moved into over
the last year;
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How central banks are managing the increased risks;
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How benchmarks and investment guidelines are changing;
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How benchmarks are set;
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How central banks account for gold in their portfolios;
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Central banks increasing use of derivatives;
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Major problems encountered by the official sector when using derivative
products;
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Which risks reserve mangers think will be most important in 2006.
See
for yourself – sample pages
To see for yourself some of the exclusive analysis presented
in this year’s edition please take a moment to look at the
sample pages presented on the right of this page.
Leading
authorities
RBS Reserve Management Trends 2006 draws on contributions
from leading practitioners, commentators and private sector analysts.
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