BRICS bank, Reserve currency and GDP rankings.

Factual Questions
1

Please throw some light on BRICS bank, how likely is it to be formed?
Would it mean Chinese Yuan getting promoted as a reserve currency since China is cash rich and most other countries will take loans from the BRICS bank for their development projects?
Would then, the nominal GDP ranking of a country depend on the value of its currency wrt the US dollar as well as Yuan?

2

I don’t understand your first sentence. Do you mean “what is the possibility of a bank being formed that explicitly encompasses the BRICS countries”? And do you mean a private, or intergovernmental bank?

3

I mean a intergovernmental bank(managed by BRICS nations) where all developing countries can take loans and all countries(including the developed one) have a chance to invest.
I was listening to thishelpful video in this regard.

4

Basicaly it seems to be a replacement or complement for the IMF focused mainly on developing countries.

I don’t see how we can factually answer a future hypothetical but if the outlook in Broken BRICs is close to reality, the idea may wither on the wine. The IMF may simply becomes friendlier to developing countries by virtue of *some *of the current BRIC members financial growth.