FACTBOX-The IMF common reserve proposal and BRIC savings

Nov 5 - International Monetary Fund chief Dominique Strauss-Kahn has proposed creating a common pool of reserves to help rebalance the world economy by dissuading emerging market countries from accumulating massive foreign exchange reserves.

Such ideas are likely to come into play as Group of 20 nations develop a plan to build a more balanced global economy, which would shrink surpluses in export-rich countries such as China and boost savings in debt-laden nations like the United States. [ID:nN05549402]

G20 finance ministers meet in Scotland this weekend to discuss the new framework and are expected to get into details next year. Still, emerging market countries are unlikely to want to forego self-protection to contribute to a multilateral coffer without clear rules on access.

Here are some details about the reserves of BRIC countries -- an acronym that refers to the emerging powerhouses of Brazil, Russia, India and China:

BRAZIL:

* Brazil had about $233 billion in reserves on Nov. 3, the latest data available. The amount is an all-time high for Brazil, Latin America's largest economy.

* Brazil had 89.1 percent of its reserves in U.S. dollars, 9.4 percent in euros and 1.5 percent in other currencies in December 2008, according to the central bank.

RUSSIA:

* Russia's reserves, worth over $400 billion, are the world's third largest.

* It has gradually diversified away from the dollar, and currently its reserves are made up of around 47 percent dollars, 41 percent euros, 10 percent sterling and 2 percent yen. Russia is seeking to add more currencies to its reserves, but officials say this is hampered by liquidity constraints.

INDIA

* India's foreign exchange reserves amounted to $285.52 billion on Oct. 23.

* The central bank does not provide a currency break-down of the country's foreign exchange holdings.

CHINA

* China had $2.27 trillion in foreign exchange reserves, the world's largest stockpile, as of the end of September.

* The composition of China's foreign exchange reserves is officially a state secret, but analysts estimate that about two-thirds are invested in dollar-denominated assets, with about $1.2 trillion in U.S. government bonds. China carved out $200 billion from its foreign exchange reserves in 2007 to establish a sovereign wealth fund in search of higher returns and a more diversified portfolio.

(For a graphic of BRIC holdings of U.S. assets, see http://graphics.thomsonreuters.com/119/US_BRIC1109.gif) (Reporting by Ana Nicolaci da Costa in Brasilia; Toni Vorobyova in Moscow; Simon Rabinovitch and Jason Subler in Beijing; Anurag Joshi in Mumbai; Editing by Lesley Wroughton; Editing by Andrew Hay)