PRESS RELEASE

Publication: 'Risk Management for Central Bank Foreign Reserves'

26 May 2004

The European Central Bank (ECB) is today releasing a publication entitled "Risk Management for Central Bank Foreign Reserves". This publication gathers contributions by academics and practitioners on the role risk management plays in the management of central bank foreign reserves.

Risk management is a key element of sound corporate governance in any financial institution, including central banks. In particular, central banks, in performing their policy tasks, are exposed to a variety of financial and non-financial risks, which they may want to manage. One such key risk concerns foreign reserves, because central banks’ main activity, namely ensuring price stability, needs to be backed by an adequate financial position.

The book can be accessed and downloaded as an e-book from the ECB's website (http://www.ecb.europa.eu). Hard copies can be obtained free of charge by writing to the ECB's Press and Information Division at the address given below.

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