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Title: Germany Has Repatriated Over 366 Tonnes Of Gold From New York And Paris
Source: [None]
URL Source: https://www.zerohedge.com/news/2016 ... tonnes-gold-new-york-and-paris
Published: Jan 27, 2016
Author: Tyler Durden
Post Date: 2018-12-25 18:52:43 by BTP Holdings
Keywords: None
Views: 21

Germany Has Repatriated Over 366 Tonnes Of Gold From New York And Paris

by Tyler Durden

Wed, 01/27/2016 - 20:47

Submitted by Ronan Manly of BullionStar

Update on Bundesbank Gold Repatriation 2015

Deutsche Bundesbank has just released a progress report on its gold bar repatriation programme for 2015 – “Frankfurt becomes Bundesbank’s largest gold storage location“.

During the calendar year to December 2015, the Bundesbank claims to have transported 210 tonnes of gold back to Frankfurt, moving circa 110 tonnes from Paris to Frankfurt, and just under 100 tonnes from New York to Frankfurt.

As a reminder, the Bundesbank is engaged in an unusual multi-year repatriation programme to transport 300 tonnes of gold back to Frankfurt from the vaults of the Federal Reserve Bank of New York (FRBNY), and simultaneously to bring back 374 tonnes of gold back to Frankfurt from the vaults of the Banque de France in Paris. This programme began in 2013 and is scheduled to complete by 2020. I use the word ‘unusual’ because the Bundesbank could technically transport all 674 tonnes of this gold back to Frankfurt in a few weeks or less if it really wanted to, so there are undoubtedly some unpublished limitations as to why the German central bank has not yet done so.

Given the latest update from the German central bank today, the geographic distribution of the Bundesbank gold reserves is now as follows, with the largest share of the German gold now being stored domestically:

1,347.4 tonnes, or 39.9%, stored in New York;

196.4 tonnes, or 5.8%, stored in Paris;

434.7 tonnes or 12.9% stored at the Bank of England vaults in London;

1402.5 tonnes, or 41.5% now stored domestically by the Bundesbank at its storage vaults in Frankfurt, Germany

In January 2013, prior to the commencement of the programme, the geographical distribution of the Bundesbank gold reserves was 1,536 tonnes or 45% at the FRBNY, 374 tonnes or 11%, at the Banque de France, 445 tonnes or 13% at the Bank of England, and 1036 tonnes or 31% in Frankfurt.

Poster Comment:

Lots of images at source.

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