86 tons of gold transferred from America to Europe
DNB shifted its reserves in North America to European-based markets in order to access assets more quickly during times of crisis.
The central bank moved its gold located in the US and Canada to Europe to ensure faster access to reserves in potential crisis situations; proportions in London and the Netherlands increased.
The Process of Transferring Reserves to Europe
The bank stated that the gold market in London has a deeper and more liquid structure, which allows reserves to be used more quickly in the event of a possible crisis. Within the framework of the operation between March and August, the locations of thousands of tons of assets were changed.
Changes and Distribution in Proportions
The institution's share in the US decreased, having held a total of 612.4 tons of gold reserves at the end of last year. While its share in Canada also declined, the proportion of reserves held in London showed a significant increase.
Evaluations by Experts
Experts evaluating the issue stated that the move aimed to provide faster access to gold during times of crisis. On the other hand, it was also noted that similar steps could negatively affect confidence in the US.