Finland joins Riksbank in greater gold transparency
By GCRU Gold News on Thursday, October 31 2013, 06:37 - Permalink
Bank of Finland joins Riksbank in revealing where it stores its gold; both banks cite geographical diversification as a motivation, but say it still makes sense to keep most in London
The Bank of Finland this week joined Sweden's Riksbank in disclosing the location of its gold holdings around the world, with both institutions saying the move was in line with a general move towards increased transparency.
The Bank of Finland revealed that it, like the Riksbank, holds roughly half of its gold at the Bank of England. It also holds 20% at the Riksbank – a bigger share, in fact, than the 12% the Riksbank itself holds there.