The report discusses the end of the 'Great Accumulation' of FX reserves, highlighting that advanced economies like Switzerland and Japan are unlikely to engage in further reserve accumulation. It examines the implications for the Swiss National Bank (SNB) and the Bank of Japan (BoJ), and the potential impact on global FX and fixed income markets.
documents/vol00010-efta01458291-pdf.pdf
{"title":"Special Report: The 'Great Accumulation' Is Over: Fx Reserves Have Peaked, Beware QT","key_people":["Swiss National Bank","Bank of Japan"],"document_date":"September 2015","document_type":"other","key_locations":["Switzerland","Japan"],"document_subtype":"financial report","key_organizations":["Deutsche Bank"]}