About International Reserves and Foreign Currency Liquidity

International Reserves
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Time Series Data for UNITED KINGDOM (U.S. Dollars)

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UNITED KINGDOM Last Updated:Thursday, November 06, 2014
International Reserves/Foreign Currency Liquidity

This country reports International Reserves Template data broken down by Monetary Authorities and Central Government.

Current Data (PDF format)
  

        Country Notes:

The Exchange Equalisation Account (EEA) holds the United Kingdom's official reserve assets, which are owned by Her Majesty's Treasury. The Bank of England, acting as their agent, carries out day-to-day management of the account dealing in foreign currencies and the investment of the reserves.
The presentation of data in Section 1.A of the Template differs from the data on international reserves as published in the balance of payments and international investment position (BOP/IIP) in three respects:
* The Bank of England's foreign currency assets do not form part of the UK's Official Reserves assets. As set out in the Chancellor's letter of 6 May 1997 to the Governor of the Bank of England, the Bank may use these assets to undertake foreign exchange intervention in support of its monetary policy objective. The BoE's foreign currency assets are shown under Section I.A of the Template to provide greater details of its assets.
* Because the UK-based financial markets are global in nature, official reserves holdings include claims on residents, although these are separately identified in the Template. International reserves in the BOP/IIP represent external claims only and therefore include only claims on non-residents.
* The UK's Official Reserve Assets as published by HM Treasury and those in the UK BOP data include adjustments for unsettled cash and exclude the mark to market value of foreign currency forwards and swap. This differs from the Template which includes derivatives in section I.A.5 and accounts for unsettled cash only in section II.3 ("accounts payable/receivable").
A reconciliation of data on international reserves between the UK Reserve Template and IIP is published by the BoE (Table D4.1), which is also available on the BoE website. In addition, a reconciliation between the UK's Official Reserve Assets (as published by HM Treasury) and the Template is included in the website data.
Beginning April 2007, the Bank's equity holding in the ECB and BIS have been removed from the Template.