The United Kingdom's Official Reserves of Foreign Currency and Gold
Published Information on the Reserves
The presentation and accounting basis of the UK reserves has changed in recent years. Since April 2000, reserves data have been published on a monthly basis in accordance with the IMF/G10's Special Data Dissemination Standard (SDDS). Data from July 1999 onwards can be found on both the this website (see Related Links) and the International Monetary Fund's website. These data record the value and composition of the UK government's (and, separately, the Bank of England's) gold and foreign currency assets, liabilities and derivatives on a "marked-to-market" basis (that is using current market valuations).
A monthly press release issued by HMT contains a summary of this data. It also reports details of any intervention operations conducted in the foreign exchange market during the period, by either the EEA or the Bank of England. The most recent episode of intervention occurred in September 2000, when the UK government, via the EEA, participated in joint G7 intervention to support the euro.
In January 2000 the first set of EEA annual accounts was published, covering the period 1997-98. These financial statements are audited by the National Audit Office. HMT now has a statutory obligation, under the Finance Act 2000, to publish annual accounts for the EEA. The accounts for 2000-01 were the first to be published within this framework. They were published under accruals accounting consistent with UK Generally Accepted Accounting Practice (UK GAAP).
As noted above, a summary of the annual Remit set by HMT is published
annually in the Debt
and Reserves Management Report.
.
Key Resources
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