This week, the Bundesbank (German Central Bank) for the first time published a detailed report on the gold reserves of the country showing the locations of storage: the inventory of 2300 pages contains information about each ingot, said "Deutsche Welle".
The total gold reserve of Germany is 3 384 tons, with a price of about 107 billion euro, which puts the country the second place in the world in terms of this indicator. 35% is stored in Frankfurt, where the headquarters of the Central Bank are located, 43% are in New York, 13% in London, 9% in Paris.
Precious metals accounted 67.5% of the total size of the German reserves, according to the World Gold Council (World Gold Council).
Germany held almost all of the gold abroad during the Cold War in order to ensure its security in the event of an attack by the Soviet Union. Until the reunification of Germany in 1990, this proportion was 98%.
In 2011, Germany's Federal Court came to the conclusion that the Bundesbank does not conduct regular checks of two-thirds of gold reserves that are stored outside of the country. In January 2013, the Bundesbank announced a plan of gradual repatriation, which will increase the share of gold reserves in Frankfurt up to 50% by 2020.
"Maximum by 2020, half of the German gold reserve will be stored in Germany", - said this week a member of the executive board of Bundesbank, Karl-Ludwig Thiele.
In 2000, the Bundesbank has repatriated 931 tons from the repository of the Bank of England, however, it continues to keep the gold in the UK and intends to keep it at around 13% of the total stock after 2020, which costs the Federal Republic of Germany approximately 550 euro thousand each year. All the gold from France to Germany will gradually be returned.
The biggest problem facing the Bundesbank in connection with the repatriation of gold reserves is to ensure security during the transportation.