ECB and other central banks announce the fourth Central Bank Gold Agreement
By GCRU Gold News on Tuesday, May 20 2014, 07:34 - Permalink
The European Central Bank, the Nationale Bank van België/Banque Nationale de Belgique, the Deutsche Bundesbank, Eesti Pank, the Central Bank of Ireland, the Bank of Greece, the Banco de España, the Banque de France, the Banca d’Italia, the Central Bank of Cyprus, Latvijas Banka, the Banque centrale du Luxembourg, the Central Bank of Malta, De Nederlandsche Bank, the Oesterreichische Nationalbank, the Banco de Portugal, Banka Slovenije, Národná banka Slovenska, Suomen Pankki – Finlands Bank, Sveriges Riksbank and the Swiss National Bank today announce the fourth Central Bank Gold Agreement (CBGA).
In the interest of clarifying their intentions with respect to their gold holdings, the signatories of the fourth CBGA issue the following statement:
Gold remains an important element of global monetary reserves;
The signatories will continue to coordinate their gold transactions so as to avoid market disturbances;
The signatories note that, currently, they do not have any plans to sell significant amounts of gold;
This agreement, which applies as of 27 September 2014, following the expiry of the current agreement, will be reviewed after five years.