Survey of Reserve Managers : Lessons from the Crisis

Author/Editor: Aideen Morahan ; Christian B. Mulder
Publication Date: May 08, 2013
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: 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.
Series: Working Paper No. 13/99
Subject(s): Central banks | Reserves | Risk management | Asset management

Publication Date: May 08, 2013
ISBN/ISSN: 9781484308486/1018-5941 Format: Paper
Stock No: WPIEA2013099 Pages: 34
US$18.00 (Academic Rate:
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