Gold and Foreign Exchange Reserves:Written question - HL11690

Q
Asked on: 21 November 2018
Treasury
Gold and Foreign Exchange Reserves
Lords
To ask Her Majesty's Government whether they have a role in deciding for which foreign governments and central banks the Bank of England should hold gold reserves; and if so, for which foreign governments and central banks the Bank of England holds gold reserves, and in what quantities.
A
Answered by: Lord Bates
Answered on: 05 December 2018

HM Treasury does not have a role in deciding whether the Bank of England holds gold for foreign governments and central banks. HM Treasury is unable to substantiate whether the Bank of England holds gold for particular foreign governments and central banks as that is a matter for the Bank of England. The Bank of England does not share information on which foreign governments and central banks it holds gold reserves on behalf of or the value of that gold as this would contradict their customer confidentiality obligations.

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