Update of the International Reserves and Foreign Currency Liquidity: Guidelines for a Data Template

The IMF Statistics Department, in consultation with the Reserve Assets Technical Expert Group, member countries, and other IMF departments, has prepared the updated International Reserves and Foreign Currency Liquidity: Guidelines for a Data Template (Guidelines) (Also available in Arabic, Chinese, French, Russian, and Spanish). The Guidelines were initially released in 2001, and this update was needed to ensure consistency with the Data Template on International Reserves and Foreign Currency Liquidity (“Reserves Data Template”) itself, which was modified in 2009 as a consequence of the Executive Board’s Decision to strengthen the effectiveness of Article VIII section (5) of the Fund’s Articles of Agreement. In addition, some clarifications to the Guidelines were necessary to ensure consistency with the text of the sixth edition of the Balance of Payments and International Investment Position Manual. Some clarifications to the Guidelines were also necessary based on the IMF Statistics Department’s experience with member countries that report on the Reserves Data Template.

The updated Guidelines include three new appendices. Appendix 6, “Reserve Assets and Currency Unions”, provides further methodological guidance for reserve assets in the circumstance where an economy is a member of a currency union. Appendix 7, “Frequently Asked Questions on the Characteristics of Reserve Assets”, provides information to assist countries in identifying reserve assets. Appendix 8, “Statistical Treatment of Lending to the IMF, Lending to IMF Managed Trusts, and Special Drawing Rights”, clarifies the statistical treatment in the cases where the IMF is actively engaged as a principal, manager, or administrator of positions or transactions.

The updated Guidelines contribute to the IMF's initiatives to enhance data transparency among its member countries and to provide international methodological standards. They therefore support analysis and financial surveillance, and the adoption of sound macroeconomic policies.