GOLD STORE: The Swiss National Bank has for the first time disclosed where it stashes its 1,040 tons of gold.
THE BREAKDOWN: Swiss National Bank President Thomas Jordan told an annual shareholders' meeting on Friday that 70 percent of the reserves are stored in Switzerland, 20 percent with the Bank of England and 10 percent with the Bank of Canada.
THE BACKGROUND: Since World War II and the Cold War, several central banks in Europe have kept part of their gold reserves in foreign countries in case of invasions. But economic turmoil has raised concern among Europeans about their country's financial safety nets.
- Singapore International News
- Swiss National Bank
- gold reserves