1 Our contacts with the  1  Board of Governors of the Federal Reserve System (2007), "Working with Mortgage Borrowers," Division of Banking Supervision and Regulation, Supervision and Regulation Letter SR 07-6 (April 17); and "Statement  BIS Review 128/2007  3  mortgage industry suggest that servicers recently have stepped up their efforts to work with borrowers facing financial difficulties or an imminent rate reset.
Related work includes Eichengreen and Mathieson (2000), Lane and Shambaugh (2010) and Benetrix et al (2015). The rise of China as a share of global GDP and the internationalisation of the RMB means that the share of the RMB in reserves will surely rise over time, especially for Asian economies.