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More central banks engaged in gold lending and swaps last year
"Ninety-nine-point-nine percent of the central bankers I know don't even know they have gold in their vault. They don't spend one millisecond thinking about gold during the day. It's not on their agenda, so to think that they try to manipulate gold to suppress the gold price -- forget it. They don't even think about it."
-- Pierre Lassonde, founder and chairman emeritus of Franco-Nevada Corp., former president of Newmont Mining, and former chairman of the World Gold Council, during an interview with MineWeb in October 2013.
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More Central Banks Engage in Gold Lending and Swaps
From Central Banking magazine, London
Thursday, September 15, 2022
The number of central banks active in gold lending and swaps increased slightly last year, the Reserves Benchmarks 2022 reveal.
Overall, 12 (27.27%) of the 44 participating central banks said they are active in these activities. This is slightly higher than the 10 central banks engaged in these transactions among the 44 participants in last year's study.
Additionally, just under half (47.73%) of institutions said they use derivatives for currency hedging. And over 60% resort to securities lending.
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