•  The disclosure covers bonds issued by governments and regional authorities as well as equities and corporate bonds invested via exchange-traded funds, ETFs. •  These asset classes amounted to approx. kr. 50 billion – or 10 per cent – of the market value of foreign reserves at the end of 2022.
Given the high value added that financial industry generates and the negative correlation between regulation and profitability, the incentive to compete on regulatory standards is much stronger than in other sectors, especially for countries which have put the financial sector at the centre of their economic policy priorities.