Markets

CBRT reserve correction from the World Gold Council

World Gold Board changed the calculation method in order to analyze the gold reserves of the Central Bank of the Republic of Turkey more appropriately.

(mtag101702)

The Board stated that the CBRT Reserve Option Mechanism (ROM), which enables banks to keep their essential provisions in gold, was established to attract some of the gold assets in the household, but this caused volatility in the CBRT’s gross reserves.

(mtag101702)

Stating that the gold reserves reported to the IMF since the ROM was put into effect are the gold collected thanks to the mechanism and that the CBRT does not have these reserves directly, the institution said that they used the calculation methods to better understand this distinction.

(mtag101702)

Stating that they subtracted the gross reserves within the ROM from the gross reserves reported to the IMF by using the monthly data announced by the CBRT, the board emphasized that they could only measure the gold reserves held by the central bank in a more real way.

(mtag101702)

Stating that they were able to calculate the official department assets with the new weekly data announced by the CBRT, the institution said that they can now calculate the gold reserves of the Treasury and the CBRT in a different way.

(mtag101702)

(mtag101702)

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button