The first monthly financial statements were published in 1848 (so called Revolution Year in Austria and much of Europe) a year of public riots against the government in the Austrian Empire. The purpose of the publication was to reassure the public that the paper money was covered by adequate silver holdings.
Speaking on the sidelines of the Fund-Bank spring meeting in April this year, I had alluded to labels such as “currency manipulation” and called for greater understanding all around, to the compulsions of Emerging Market Economies (EMEs) in building up their own buffers.