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DTSTAMP:20260508T132937Z
DTSTART;VALUE=DATE:20260830
DTEND;VALUE=DATE:20260904
SUMMARY:Foreign reserve management 
TRANSP:TRANSPARENT
UID:2026_08_31_foreign_reserve_967730
DESCRIPTION:Objective\n\nIn recent years\, foreign reserve managers have 
 faced the challenge of low interest rates. At the same time\, counterpar
 ty and liquidity risks have increased. \n\nThis course aims to explain t
 he current reserve management policies and practices of the Bundesbank a
 nd the ECB. Special attention will be paid to portfolio management and d
 iversification\, as well as to the attractiveness of the various financi
 al instruments used in reserve management. The course will also focus on
  risk management issues and benchmarking. Interaction with the exchange 
 rate in the past is also taken into account.\n\nTo broaden the perspecti
 ve\, participants will be asked to actively contribute to discussions an
 d share their national experiences with selected aspects relating to res
 erve management.\n\nContents\n\n• Reserve management service offered by 
 the Bundesbank\n• Level and adequacy of foreign reserves\n• Financial in
 struments used in reserve management\, e.g. repos\, gold deposits and fi
 nancial derivatives\n• Portfolio management\n• Investment guidelines and
  strategic benchmarking\n• Market and credit risk control\n• Performance
  measurement\n• Gold and gold instrument management (e.g. location swaps
 )\n\nTarget group\n\nThis course is aimed at employees responsible for r
 eserve management at the policymaking\, operational or risk control leve
 l. Participants should have a sound knowledge of portfolio management so
  that they can share their experiences and actively contribute to discus
 sions.\n\nPlease note\n\nA nomination is required in order to participat
 e in our in-person courses.
LOCATION:Frankfurt am Main
CONTACT:Deutsche Bundesbank – CIC\, tzk@bundesbank.de\, +49 69 9566-36605
 
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