1.   Again, hidden reserves came to his aid.

2.   His reserve comes from a fear of being found out.

3.   Operating reserves will come from funds generated by the tax credit programs for historic rehabilitation and low-income housing.

4.   The lower reserves come as wheat crops in the U.S. and several other large producers have suffered damage.

5.   Then came the reserves.

6.   Those reserves could come in handy if Brazil has to confront a quick outflow of short-term investment.

7.   Central bank Governor Gabriel Singson said the additional reserves came from borrowings from multilateral lending institutions, other international lenders and dollar purchases.

8.   In the case of South Africa, its central bank reserves almost came down to a negative value and yet the Johannesburg Stock Exchange rebounded after nine months.