Table 1 – International reserves
|Market Value||Average return in reserve currencies, p.a.|
|EUR mil||Share||5 years||3 years||1 year|
|Liquidity tranche||42 231||29.9%||n/a||−0.20%||−0.35%|
|Investment tranche||98 813||70.1%||n/a||2.96%||-0.49%|
Table 2 – Division of the international reserves by investment instrument
|Type of investment||Share|
|– government agencies||7.9%|
|– supranational issuers||3.3%|
|– MBS and covered bonds||3.2%|
|Money market instruments||31.7%|
Table 3 – Currency allocation of the international reserves
- The average return in reserve currencies p.a. is calculated as the weighted average of the returns on portfolios in the currencies of the respective portfolios; the weights are the ratios of the portfolios’ market value to the total;
- Five years, three years and one year are moving periods, i.e., for example, a one-year period contains data for the last four quarters.
- Bonds are broken down into four major categories:
- bonds issued by governments,
- bonds of government agencies, i.e. issuers with a close relationship with the central government, whose liabilities are usually explicitly guaranteed by the government,
- supranational issuers include, for example, the BIS, IBRD, EBRD, EIB, etc.,
- MBS bonds and covered bonds are mortgage-backed bonds (bonds guaranteed by selected US agencies – MBS or covered bonds typically issued in Europe).
- Other is the sum of the market value of gold and derivative positions, for example, positions in futures contracts, interest rate and FX swaps, etc.