FACTBOX-Venezuela moves reserves to BRIC nations
CARACAS, Aug 17 (Reuters) - Venezuelan President Hugo Chavez said on Wednesday he would repatriate $11 billion in gold reserves held in foreign banks and diversify the liquid reserves away from Western nations and into emerging powers like China, Russia and Brazil. [ID:nN1E77G1E8]
The following is a breakdown of Venezuela's international reserves, according to a policy paper prepared by the Finance Ministry and central bank.
The document was leaked to an opposition lawmaker and later posted on the Internet. Chavez cited figures from the document in his public remarks on Wednesday.
All figures are as of Aug. 8, 2011, and in U.S. dollars.
GOLD RESERVES
Gold reserves of $18.3 billion represent two-thirds of Venezuela's total reserves. Of that total $11.1 billion are in the custody of foreign banks and $7 billion with the Central Bank of Venezuela.
INSTITUTION AMOUNT
Bank of England $4.6 bln
BIS (Switzerland) $544 mln
JP Morgan (U.S.) $807 mln
Bank of Nova Scotia (Canada) $381 mln
Barclays Bank PLC (Britain) $2.1 bln
BNP Paribas (France) $184 mln
HSBC (Britain) $1.4 bln
Standard Chartered (Britain) $1.1 bln
Central Bank of Venezuela $7.2 bln
LIQUID RESERVES
Venezuela has financial assets in reserve, and available upon demand to finance debt payments or import, of $29.1 billion. Of that, $6.3 billion are held abroad and distributed as following.
INSTITUTION AMOUNT PERCENTAGE
BIS (Switzerland) $3.7 bln 59.2
Barclays (Britain) $1.1 bln 17.9
JP Morgan (U.S.) $616 mln 9.8
BNP Paribas (France) $407 mln 6.5
Central Bank (Venezuela) $238 mln 3.8
World Bank $90 mln 1.4
Deutsche Bank (Germany) $43 mln 0.7
BLADEX (Panama) $42 mln 0.7
Federal Reserve (U.S.) $5 mln 0.1 (Reporting by Diego Ore and Louise Egan)
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