Guidelines for Foreign Exchange Reserve Management
International Monetary Fund, 2004 - Business & Economics - 21 pages
These guidelines are intended to assist countries in strengthening their policy frameworks for reserve management so that they can become more resilient to shocks that may originate from global financial markets or within the domestic financial system. The guidelines have been developed as part of a broader IMF work program to help strengthen international financial architecture, to promote policies and practices that contribute to stability and transparency in the financial sector, and to reduce external vulnerabilities of member countries.
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I What Is Reserve Management and Why Is It Important?
II Purpose of the Guidelines
III The Guidelines
IV Discussion of the Guidelines
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accounting standards agement entities Agencies allocation assets and liabilities balance sheet benchmark portfolio central bank cial context Coordination counterparties countries credit risks currency composition Currency risk data template debt management derivative financial instruments deviate domestic duration eign ensure exchange rate external debt external managers finan financial statements foreign exchange market foreign exchange policy foreign exchange reserves framework for reserve Fund’s guidelines IMF’s integrity Interest rate risk internal audit internal governance International Monetary Fund international reserves investment instruments limits Liquidity risk losses management of risks MFP Transparency Code monetary and exchange monitoring passive management performance potential principles Public disclosure publicly disclosed relevant requires reserve adequacy reserve management activities reserve management entity reserve management objectives reserve management operations reserve management policies reserve management practices Reserve management strategies reserve portfolio Responsible for Reserve risk constraints risk exposures risk management framework role SDDS staff tions tranche transactions