Frankfurt (AFP) – The German central bank or Bundesbank said Monday that it stepped up the repatriation of its gold reserves from overseas storage last year.
“The Bundesbank successfully continued and further stepped up its transfers of gold,” the central bank said in a statement.
“In 2014, 120 tonnes of gold were transferred to Frankfurt from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York.”
Germany’s gold reserves are the second-biggest in the world after those of the United States and totalled 3,384.2 tonnes this month, according to the latest data compiled by the World Gold Council.
According to the German central bank’s own data, 1,447 tonnes are stored at the Federal Reserve Bank in New York, 438 tonnes at the Bank of England in London and 307 tonnes at the Banque de France in Paris.
Under the Bundesbank’s new gold storage plan in 2013, it decided to bring back 674 tonnes from abroad by 2020 and store half of its gold in its own vaults.
Full article: Germany repatriates more gold: Bundesbank (Yahoo!)