When gold prices soared in the period 2010–2012, there were murmurs of reserve mismanagement, supported by hypothetical estimates of the notional “losses” we suffered by not investing up to 50 per cent of our reserves in gold.
To this end, more than 45 central banks and supervisors worldwide have joined forces in the Network for Greening the Financial System (NGFS), pooling their methodological capabilities and building up a robust information base.