Since its first publication in 2005, HSBC Reserve Management Trends has supplied an insight into the practices and methods applied by reserve managers across the world. This key guide continues to provide reserve managers and the stakeholder community with invaluable insights into the practices, expectations and outlook of the global reserve management community.
What are the most significant risks reserve managers face in 2024? How are reserve managers incorporating geopolitical risk into their portfolios? Does AI have a place in reserve management operations? These are some of the questions addressed in HSBC Reserve Management Trends 2024.
This 20th anniversary edition features its largest ever survey of 91 central banks responsible for more than $7 trillion in reserves.
Edited by Robert Pringle and Joasia E. Popowicz, the book includes an exclusive interview with Jonas Stulz, head of portfolio management and deputy head of asset management at the Swiss National Bank, and chapters written by: Min Soo Kwon, director general of the reserve management group at the Bank of Korea; Michał Zajac, who serves on the Risk and Investment committees at the National Bank of Slovakia and the Risk Management Committee of the European Central Bank; as well as Juliusz Jabłecki, director of the financial risk management department at the National Bank of Poland, with colleagues Paulina Domagalska, Maciej Pomykała and Navdeep Singh.
ISBN | 139781782729938 |
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Navision code | LRMT24 |
Publication date | 22/04/2024 |
Robert Pringle and Joasia E. Popowicz
Edited by Robert Pringle and Joasia E. Popowicz
Robert Pringle is chairman of Central Banking Publications. Before starting Central Banking, Robert was for several years editor of The Banker, and subsequently was closely associated with the establishment of the well-known think-tank the Group of Thirty, where he served for seven years as the first executive director, based in New York. He was also for three years a senior fellow at the United Nations institute WIDER, in Helsinki.
Joasia E. Popowicz is the associate editor and fintech correspondent at Central Banking. She chairs the FinTech RegTech Global Awards, and is the fintech subject specialist for the Central Banking Benchmarking Service. Previously, Joasia worked as a data journalist across Risk Quantum and Central Banking. She was a data journalism fellow at the Brown Institute for Media Innovation and Enigma, a fintech in New York. The Brown Institute is a joint initiative between Stanford University and Columbia University that funds projects at the intersection of journalism and technology. Joasia graduated with an MS in investigative journalism from the Toni Stabile Center for Investigative Journalism at Columbia Journalism School.
Contributors |
xiii |
Glossary |
xvii |
Executive summary |
xix |
1 Trends in reserve management: 2024 survey results Joasia E. Popowicz |
1 |
2 RMB – internationalisation is not over Paul Mackel, Joey Chew and Jingyang Chen |
53 |
3 Managing the tides: the dynamic history and future challenges of Korea’s foreign reserve diversification Min Soo Kwon |
69 |
4 Interview: Jonas Stulz Christopher Jeffery |
81 |
5 Reserve management at the National Bank of Slovakia Michał Zajac |
89 |
6 The NBP’s gold purchases – a view from the risk management trenches Paulina Domagalska, Juliusz Jabłecki, Maciej Pomykała and Navdeep Singh |
99 |
Appendix 1: Survey questionnaire |
113 |
Appendix 2: Survey responses and comments |
129 |
Appendix 3: Reserve statistics |
189 |