BRICS economies have grown rapidly with their share of global GDP rising from 11 per cent in 1990 to almost 30 per cent in 2014. BRICS account for over 40 per cent of the world population, hold over $ trillion in reserves and account for over 17 per cent of global trade.
As economic and financial conditions evolve, the Committee will phase out these supplementary tools when they are no longer needed. The Committee intends to reduce its securities holdings in a gradual and predictable manner primarily by ceasing to reinvest repayments of principal from securities held by the Federal Reserve.