2 days ago · Purpose and Framework This report presents the Federal Reserve Board's current assessment of the stability of the U.S. financial system. By publishing this report, the Board …

The post-pandemic period has been one of broad dollar strength, and one in which many of the United States’ major trading partners were intervening in markets to support their currencies, …

Focusing on inflation targeting countries, we find that holdings of foreign reserves are associated with higher local currency sovereign debt, an exchange rate which is less sensitive to global …

In this way, we provide credible estimates of the effect of port-folio decisions of foreign reserve managers on U.S. liquidity, providing a direct link between this source of illiquidity in U.S. …

Jul 15, 2025 · This report endeavors to provide an exhaustive understanding of foreign exchange reserves, encompassing their definitional parameters, multi-faceted purposes, granular …

Nov 17, 2025 · Central banks set policy to support the economy, provide liquidity, and promote financial stability. Modern central banking requires adaptation to current demands and a …

Nov 19, 2025 · It also improves transparency and operational efficiency by standardizing settlement processes, facilitating netting of exposures, and supporting robust risk …

Mar 31, 2025 · Transparency and Governance: Good governance and transparency in the management of reserves can enhance credibility and reduce the likelihood of speculative …

Nov 1, 2024 · In this paper, we revisit the estimation of the impact of FO flows on U.S. Treasury yields by identifying a FO purchase or sale shock via heteroskedasticity in a vector …

Sep 21, 2023 · But the role of foreign exchange reserve managers has changed over time as monetary policy frameworks have evolved, with many central banks now deploying their …