To cite just one example, a study published by the Bank for International Settlements in 2008 on the management of foreign exchange reserves 3 remarks that central banks have traditionally had a low level of tolerance as regards credit risk, and therefore have limited expertise in credit risk management.
Mark Carney: Summary of Canada’s January 2013 Monetary Policy Report Opening statement by Mr Mark Carney, Governor of the Bank of Canada and Chairman of the Financial Stability Board, presented to the House of Commons Standing Committee on Finance, Ottawa, Ontario, 12 February 2013. *  *  *  Good morning.