We analyze the daily positions of 31 foreign Central Banks in U.S. interest rate futures markets between 2003 and 2011 for targeted hedging or informed profit-making decisions. Central Bank positions before the financial crisis of 2007-2009 are consistent with hedging some underlying balance...

We analyze the daily positions of 31 foreign Central Banks in U.S. interest rate futures markets between 2003 and 2011 to investigate whether such positions reveal targeted hedging or informed profit-making decisions. Central Bank positions before the financial crisis of 2007-2009 are consistent...

Most central banks issue stock that is held by the government and/or commercial banks and is not tradable. In contrast, stocks of the central banks of Belgium and Japan are traded on the Brussels and Tokyo stock exchanges. The purpose of the paper is to examine this unique phenomenon of stock...