Jacob Bjorheim is a Lecturer at the University of Basel in the Faculty of Business and Economics, a Visiting Fellow in the Department of Banking and Finance at the University of Zurich and a member of the Investment Committee at the CERN Pension Fund in Geneva. Previously, from 2007 to 2017, he was Head of Asset Management at the Bank for International Settlements (BIS): He holds a PhD from London School of Economics and is a CFA charterholder.

Systematic views of best asset management practices at central banks across the globe

Brings a long-neglected central bank activity to the forefront of public and private sector interest

Edited by a senior public sector professional with deep insights into central banking and its reserve management practices

Chapter 1. Asset Management at Central Banks and Monetary Authorities.- Chapter 2. Central Banks: Gatekeepers of Monetary Stability and Guardians of Public Interest.- Chapter 3. Larger Central Bank Balance Sheets: A New Normal for Monetary Policy?- Chapter 4. How Countries Manage Large Central Bank Balance Sheets.- Chapter 5. Reserve Accumulation, Sovereign Debt and Exchange Rate Policy.- Chapter 6. The cost of holding foreign exchange reserves.- Chapter 7. Saudi Arabian Monetary Authority: Why do central banks hold domestic and foreign currency assets?- Chapter 8. Safe assets: Made, not just born.- Chapter 9. Expansion and contraction of central bank balance sheets: Implications for commercial banks.- Chapter 10. Management of Canada's Foreign Exchange Reserves.- Chapter 11. How the Monetary Authority of Singapore (MAS) manages its assets.- Chapter 12. The South African Reserve Bank's Strategic Asset Allocation Value Chain.- Chapter [...]opean Central Bank: The investment decision-making process and its governance.- Chapter 14. Reserves management at Danmarks National Bank: Combining liquidity tiers with an adaptive risk budget.- Chapter 15. The Swiss National Bank's investment decision-making process from a safe-haven currency perspective.- Chapter 16. The Strategic Asset Allocation Framework of Banco de México.- Chapter 17. Macro risk management in a commodity-dependent economy: The case of the Central Bank of Chile.- Chapter 18. Dynamic Strategic Asset Allocation at the National Bank of Belgium: Why and how to implement it in a central bank.- Chapter 19. Central Bank of Lithuania: Asset allocation in a risk parity framework.- Chapter 20. Good Governance: Principles, Pitfalls and Best Practice.- Chapter 21. Central Bank of Brazil: Investment decision-making in an integrated risk management framework.- Chapter 22. Governance, Risk Management, Reporting, and Control at the Central Bank of Columbia.- Chapter 23. Foreign exchange reserves at the National Bank of Poland: Adequacy, risk-budgets, tranching and financial implications.- Chapter 24. Central Banks as Bankers to Each Other: Overview, Trends, and Future Directions in Global Official Sector Service Provision.- Chapter 25. Modern central bank reserves management: Introduction and overview.- Chapter 26. Bank of Israel: Integrating equities into the foreign exchange reserves.- Chapter 27. Renminbi securities in portfolios of official institutions: A perspective from the Hong Kong Monetary Authority.- Chapter 28. Responsible Investment and central bank asset management.- Chapter 29. BlackRock: Reserves Management with Factors and Reference Portfolios.