[12] See also ECB (2017), The International Role of the Euro, July. The share of the euro in global foreign exchange reserves actually increased in 2016, even after controlling for valuation effects arising from exchange rate movements. This suggests that adjustments in the holdings in question were limited or concerned official reserve holders with small holdings.
financial soundness indicators and coverage of risk transfer instruments, including data on the credit default swap markets); data measuring financial network connections (particularly for systemically important global financial institutions) and identifying the activities of non-bank financial institutions. It is important to note that these gaps do not relate solely to banks and insurance companies. Data gaps are also prevalent in the non-regulated sector.