The changing composition of official reserves

Philip D Wooldridge

BIS Quarterly Review, 2006

Abstract: The way in which official reserves are managed is changing. Data compiled by the BIS on deposits placed by monetary authorities with commercial banks confirm that reserve managers approach diversification cautiously. Nevertheless, they have steadily shifted into higher-yielding, higher-risk instruments. The currency composition of reserve holdings is still highly concentrated in US dollars and euros, but the shares of some other currencies have changed significantly over time.

JEL-codes: E58 F31 G15 (search for similar items in EconPapers)

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