Fig 28. Factors used to calculate reserve adequacy (% citations) Rank 1 Rank 2 Rank 3 Rank 4 A d Import coverage | 9 6 6 Short-term debt coverage 6 GDP coverage ey 3 Money supply 6 13} Capital flight oy 3 Current account deficit 3 Exchange rate regime Sample comprises of central banks only. Key denotes each factors' level of importance according to central banks. Rankings split into four categories in descending order with rank 1=most important. Rating scored as of Q1 of the given year. Sample=31. Fig 29. Net increase in foreign currency reserves (% AUM) DM High FME DM Low FME EM Sovereigns Sample size shown in grey. DM High FME=High financial market dependency. DM Low FME=Low financial market dependency. Fig 30. Level of reserves adequacy (% citations) Ample Sufficient Insufficient DM High FME DM Low FME EM 14 Sample comprises of central banks only. Sample size shown in grey. 39 HOUSE_OVERSIGHT_026719