Recent global developments: focus on official sector According to the available data in public domain, the events during the last decade in the international bullion market were dominated by the official sector mainly by central banks, especially through sales and leasing, with consequential impact on gold prices.
Nagel: There are around 40.000 items of eligible collateral in our database which have to be valued on a daily basis. There are also historical reasons for this: the idea behind a broad collateral framework was to ensure that banks from all participating countries could participate in the Eurosystem’s refinancing operations. It is not a big secret that this is a big challenge.