International reserve assets

(According to the IMF) those external assets that are readily available to and controlled by the monetary authorities for direct financing of payments imbalances, for indirectly regulating the magnitude of such imbalances through intervention in exchange markets to affect the currency exchange rate, and/or for other purposes. The monetary authorities sector includes the central bank institutional unit (or currency board, monetary agency, etc.) and certain operations that are usually attributed to the central bank but, in some cases, are carried out by other government institutions (or, in some instances, by commercial banks). Such operations include the issue of currency, maintenance and management of international reserves-including those resulting from transactions with the IMF-and the operation of exchange stabilization funds.