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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (811)	2/17/1999 9:36:00 AM
From: Henry Volquardsen	Respond to of 2794

Hi Sam, The description in Barron's is not the clearest. I went to the Fed statistics to double check and the number is the same. My original post may have given the incorrect impression that I was stating that that number was total foreign central bank reserves. It is not, it is just that portion held in US Treasuries, which would be the overwhelming majority of their dollar reserves but not their total reserves. So it is the US Treasury debt that foreign central banks hold. Re the scenario I outlined it would have a net effect of Japan as a whole not repatriating capital. However it is unlikely the BoJ would buy all the private sector dollars being sold. So on balance there would still be net repatriation. Henry