Bundesbank brings even more Gold to Frankfurt

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Bundesbank

Bundesbank brings even more Gold to Frankfurt

The Bundesbank has in the past year, a further 210 tonnes of Gold from their stocks in New York and Paris to Frankfurt brought. Until 2020, more than half of the gold reserves in domestic safes store.

The Bundesbank is driving the shift of half its gold reserves to Frankfurt with great pace. In the past year were a total of 210 tons of the precious metal from abroad into the Federal Reserve-Central been brought, was announced by the Bundesbank on Wednesday. This was significantly more than in 2014. “We are very well on schedule,” said Bundesbank Board member Carl-Ludwig Thiele. “Since the end of last year in Frankfurt, with roughly 1403 tonnes of Gold to New York, our largest custodian.” The German Central Bank has with about 3400 tons of the precious metal the second-largest gold in the world after the USA.

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For historical reasons, stores most of the Milliardenschatzes abroad: At the US Federal Reserve Bank in New York, the Banque de France in Paris and the Bank of England in London. 2012 was in Germany a public debate about the safety of the German gold abroad has flared up. The Federal court called for periodic sampling of stocks in abroad.

The Bundesbank had then 2013 announced that, starting in 2020, half of its gold in its own vaults in Frankfurt am Main are supposed to be stored. Gradually want to do this, 300 tons of Gold from New York and 374 tonnes of Gold from Paris to Frankfurt to be transported. It was the Bundesbank, the Basel based Bank for International settlements (BIS) in the years 2013 and 2014. The Gold quality is also of independent experts that monitors. Have already been approximately 366 tons from New York and Paris, France – 54.4% of the shifting quantity to Frankfurt brought.

zdh/ul (rtr, dpa)