Foreign reserve management

Application deadline

28 May 2021

Objective

In recent years, foreign reserve managers have faced the challenge of low or negative interest rates. At the same time, counterparty and liquidity risks have increased.

This online course aims to explain the current reserve management policies and practices of the Deutsche Bundesbank and the ECB. Special attention will be paid to portfolio management and diversification, as well as to the attractiveness of the various financial instruments used in reserve management. The course will also focus on risk management issues and benchmarking.

To provide a broader perspective, participants will be asked to actively contribute to discussions and share their experiences with regard to certain aspects of reserve management in their own home countries.

Content

•           Reserve management service offered by the Bundesbank

•           Level and adequacy of foreign reserves

•           Financial instruments used in reserve management, e.g. repos,

             Gold deposits and financial derivatives

•           Portfolio management

•           Investment guidelines and strategic benchmarking

•           Market and credit risk control

•           Performance measurement

•           Gold and gold instrument management (e.g. location swaps)

PLEASE NOTE: A more specific overview of the schedule (exact dates and times) will be published at least four weeks before the application deadline.

Target group

This online course is aimed at employees responsible for reserve management at the policymaking, operational or risk control levels at their own institutions. Participants should have a sound knowledge of portfolio management so that they can share their experiences and actively contribute to discussions.

Technical requirements

Computer with microphone, camera, speakers or headphones; an up-to-date internet browser.