Bank Negara Malaysia (the Bank) is a statutory body governed by the
Central Bank of Malaysia Act (CBA)2009. The CBA sets out the Bank's objectives
and specifies its powers and duties.
The Bank disseminates broad range of economic and financial data through
its publications and its official website.
The compilation of the data on the analytical accounts of the banking
sector is also governed by the terms and conditions of the Financial Services
Act 2013 and Islamic Financial Services Act 2013.
The collection and compilation of the external debt data is also
governed by Section 78(2) of the CBA 2009.
The Bank publishes data as a service to the public.
International reserves and foreign currency liquidity
Section 12(1) of the Central Bank of Malaysia Act provides that the central bank publish a return of its assets and liabilities, including the data on international reserves, twice a month - after the 15th day and after the last day of each month.
The Financial Services Act 2013 and Islamic Financial Services Act 2013 stipulates
that information submitted on an individual basis is confidential unless if it
falls under section 145 and 157 of the Financial Services Act 2013 and Islamic
Financial Services Act 2013.
The public may obtain copies of the CBA 2009, FSA 2013, IFSA 2013
and DFIA 2002 (incorporating latest amendment by Act A1502/2015 and amendments
to First Schedule [PU(A) 14/2016) from
Percetakan Nasional Malaysia Berhad (http://www.printnasional.com.my/). A summary of the acts
is also disseminated in Bahasa Malaysia and English on the Bank's website (http://www.bnm.gov.my/).
Concept and Definition: Gross international reserves held with Bank Negara Malaysia (BNM) consist of those external assets that are readily available to and controlled by BNM for direct financing of payments imbalances through intervention in exchange markets to affect the currency exchange rate, and/or for other purposes.
Relationship to international guidelines: Data on gross international reserves are compiled according to the Sixth Edition of the "Balance of Payments Manual" of the IMF.
Institutional coverage: Gross international reserves of the Central Bank comprise more than 99% of total official reserves. The balance of official reserves is held mainly by the central government, the data of which are also available but on a less timely basis. Data on total gross international reserves in US dollars are also disseminated.
Instrument coverage: Reserve assets comprise foreign currency deposits, Treasury bills, sovereign bonds and bonds issued by supranational bodies, and gold.
Financial derivative coverage:~ Bilateral and swap options.
The data include gold, foreign exchange, the reserve position in the International Monetary Fund, SDRs, other reserves, and other items as given in the International Reserves and Foreign Currency Liquidity: Guidelines for a Data Template.
Data on gross international reserves of BNM consist of the combined holdings of gold and foreign exchange; holdings of Special Drawing Rights (SDR); and reserve position with the International Monetary Fund (IMF). Foreign exchange includes nostro accounts, deposits of BNM with foreign banks, securities and the net credit position from bilateral arrangements.
Valuation: Gross international reserves are reported on a consolidated basis and on settlement date basis.
Gold, securities and investments are stated at historical cost. Provisions are made for diminution in value (if any), as at the reporting date at year-end.
Foreign assets/liabilities are revalued fortnightly (with effect from September 15 through December 31, 1998) at rates of exchange (mid-rate) ruling on the balance sheet date. The U.S. dollar equivalent is calculated and reported fortnightly. With effect from January 1, 1999, the foreign assets and liabilities are revalued on a quarterly basis.
Frequency of calculation and revaluation: Calculation : Daily Revaluation : Fortnightly (with effect from September 15, 1998 to 31 December 1998 Quarterly (with effect from January 1, 1999 onwards).
Exceptions and special cases: Prior to 1997, BNM's foreign assets and liabilities were revalued once a year, at year-end. However during the period December 1997- August 1998, the accounting policy of recognizing the foreign exchange gain or loss was changed, whereby, the exchange gain from the revaluation of foreign assets and liabilities was not recognized in BNM's books. Nevertheless, full provisions were made for any losses. From 15 September 1998 through December 31, 1998, all foreign assets and liabilities were revalued on a fortnightly basis at rates of exchange (mid-rate) ruling on the balance sheet date. With effect from January 1, 1999, the foreign assets and liabilities are revalued on a quarterly basis.
Conversion rates: Transactions in foreign currencies are converted into ringgit at rates of exchange ruling on value dates. Market rates (mid-rate) at 9 a.m. are obtained from Reuters and cross-rates are applied to derive the ringgit equivalent of 1 unit of other currencies.
The "Monthly Statistical Bulletin" publishes detailed time series data on a monthly and annual basis showing the following components of the Bank Negara Malaysia's gross international reserves: (1) gold and foreign exchange; (2) reserve position in the IMF; and (3) SDRs (Table 3.8). The "other" official reserves are also published.
The Bank Negara Malaysia website (http://www.bnm.gov.my) disseminates Table 3.8 published in the "Monthly Statistical Bulletin".
Data are disseminated in Malaysian Ringgit (RM) and U.S. dollars on the total gross international reserves of Bank Negara Malaysia (the central bank). The international reserves of Bank Negara Malaysia comprise more than 99% of the total gross official international reserves of Malaysia. (The remaining 1% of official reserves is held mainly by the central government. Data on those reserves are also available but on a less timely basis.) Data on gross official reserve assets and the Data Template on International Reserves and Foreign Currency Liquidity (reserves template) are disseminated in millions of ringgit and US dollars..
The twice-monthly "Bank Negara Malaysia: Statement of Assets and Liabilities" is available in Bahasa Malaysia and English, free of charge. Copies aree-mailed to Bernama (the state news agency), selected major newspapers, and several foreign newspapers and publications. Copies of the releases are also available to all interested parties at the Bank Negara head office.
The "Quarterly Bulletin" is available in Bahasa Malaysia and English on a subscription basis, for a fee, from the Publication and Communication Section, Corporate Affairs Department, of Bank Negara Malaysia. (See above for contact details.)
The data on gross international reserves are released simultaneously to all interested parties by issuing the press release "Bank Negara Malaysia: Statement of Assets and Liabilities". For the reserves template, the press release is titled "Detailed Disclosure of International Reserves". Copies are faxed to Bernama (the state news agency), selected major newspapers, and several foreign newspapers and publications. Copies of the releases are also available to all interested parties at the Bank Negara Malaysia head office. At the same time, the data are posted on the Bank Negara Internet website (http://www.bnm.gov.my).
The data are compiled in accordance with the methodology set out in the sixthedition of the IMF's "Balance of Payments Manual".
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