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VERSION:2.0
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DTSTAMP:20260506T141334Z
DTSTART;VALUE=DATE:20250901
DTEND;VALUE=DATE:20250905
SUMMARY:Foreign reserve management
TRANSP:TRANSPARENT
UID:2025_09_01_foreign_reserve_management_940778
DESCRIPTION:Duration\n\n5 days\n\nDeadline for application\n\n20 June 202
 5\n\nObjective\n\nIn recent years\, foreign reserve managers have been c
 onfronted with the challenge of low interest rates. At the same time\, c
 ounterparty and liquidity risk have increased.\n\nThis course aims to ex
 plain the current reserve management policies and practices of the Bunde
 sbank and the ECB. Special attention will be paid to portfolio managemen
 t and diversification\, as well as to the attractiveness of the various 
 financial instruments used in reserve management. The course will also f
 ocus on risk management issues and benchmarking. In addition\, past inte
 ractions with the exchange rate will also be considered.\n\nTo broaden t
 he scope of the course\, participants will be asked to actively contribu
 te to discussions and share their national experiences with selected asp
 ects relating to reserve management.\n\nContent\nReserve management serv
 ice offered by the Bundesbank\nLevel and adequacy of foreign reserves\nF
 inancial instruments used in reserve management\, e.g. repos\, gold depo
 sits and financial derivatives\nPortfolio management\nInvestment guideli
 nes and strategic benchmarking\nMarket and credit risk control\nPerforma
 nce measurement\nGold and gold instrument management (e.g. location swap
 s)\n\nTarget group\n\nThis course is aimed at employees responsible for 
 reserve management at the policymaking\, operational or risk control lev
 el. Participants should have a sound knowledge of portfolio management s
 o that they can share their experiences and actively contribute to discu
 ssions.\n\nPlease note \n\nA nominating person is mandatory for the part
 icipation in our in-person courses.
LOCATION:Frankfurt/Main
CONTACT:Deutsche Bundesbank – CIC\, tzk@bundesbank.de\, +49 69 9566-36605
 
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