The Bank for International Settlements : evolution and evaluation / James C. Baker.

Format:

Book

Author/Creator:

Baker, James C., 1935-

Language:

English

Subjects (All):

Bank for International Settlements.

International finance.

Banks and banking, Central.

Physical Description:

1 online resource (277 p.)

Edition:

1st ed.

Distribution:

London : Bloomsbury Publishing, 2024

Place of Publication:

Westport, Conn. : Praeger, 2002.

Language Note:

English

Summary:

In a world of increasing cross-border financial transactions, The Bank for International Settlements stands out as the oldest existing international financial institution and among the most controversial. For many it is a mystery: What does it actually do? For others it poses an ethical dilemma: What DID it do to aid the Nazis during World War II? Baker examines the history, administration, evolution, and operations of this reclusive institution. He discusses the work of its permanent committees, such as the Basle Concordats of 1975 and 1983 and the Basle Capital Accords of 1988 and 2001. Among other products and services he notes The BIS's studies of the use of derivatives by banks, its analysis of payment and settlement systems worldwide, and its supervision of the insurance and investment banking businesses. Then, in a cool and balanced appraisal, he looks at the Bank's operations during World War II, its relationship with the Nazis in their gold and foreign exchange transactions. Throughout, he underlines the importance of The BIS and its value in maintaining stability of the international monetary system. The result is a major academic study, a work of special interest to scholars, teachers, and students, and an important, readable, engrossing account for finance and investment professionals as well.

Contents:

Cover

The Bank for International Settlements

Contents

Illustrations

FIGURES

TABLES

Preface

Acknowledgments

Acronyms

CHAPTER 1 Introduction to the Bank for International Settlements

INTRODUCTION

Historical Evolution of the BIS

Reparations and the Young Plan

Original Membership, Directors, and Ownership

The U.S. Federal Reserve System and the BIS

Original Objectives

BIS Functions Since 1930

ADMINISTRATION AND FINANCIAL DATA

Administration

Financial Data

SUMMARY AND CONCLUSIONS

NOTES

CHAPTER 2 Changes in BIS Organization, Administration, and Financing

BIS Objectives

ADDITION OF CENTRAL BANK MEMBERS

Addition of New Central Bank Members

U.S. FEDERAL RESERVE MEMBERSHIP

BIS CONNECTION TO THE GROUP OF 10

ADMINISTRATIVE STRUCTURE OF THE BIS

Shareownership in the BIS

BIS Board of Directors

FINANCIAL OPERATIONS OF THE BIS

Day-to-Day Operations

INCREASE IN BIS RESEARCH STUDIES

CHAPTER 3 BIS Committees and Research

THE BIS AS A FORUM FOR INTERNATIONAL MONETARY AND FINANCIAL COOPERATION

Introduction to BIS Committees and Other Forums

Relations with the Insurance Industry

Relations with the Securities Industry

BIS Cooperative Efforts with Central Banks

Joint Vienna Institute

Other BIS Meetings

Centre for Monetary and Economic Research

CHAPTER 4 The BIS and Bank Supervision

Significant Bank Failures

THE BASLE COMMITTEE

Problems with the 1975 Concordat

Banco Ambrosiano

Basle Concordat of 1983

Recent Developments

Minimum Standards

CHAPTER 5 The Basle Accord on Capital Adequacy

THE BASLE ACCORD OF 1988

Guidelines.

Current Developments and Evaluation of the Basle Accord

PROPOSED CHANGES TO THE BASLE ACCORD

Basle Accord Problems

THE REVISED BASLE ACCORD

Objectives of the New Accord

Pillar I

Pillar II

Pillar III

Criticisms of the New Accord

European Union Capital Adequacy Rules

CHAPTER 6 The Bank for International Settlements and Derivatives

Exchange-Traded Derivatives

The Over-the-Counter Market

Benefits of Exotic Options

Derivatives Market Activity

The Crisis in Derivatives

THE BIS AND THE DERIVATIVES CONCERN

BIS Reports on Derivatives

Accounting Implications

In-house Models by the Business World

The G30 Response

The Industry Response

CHAPTER 7 Payment and Settlement Systems and the Bank for International Settlements

Major Payment Systems

Role of Central Banks in Payment Systems

Banks' Role in Payment Systems

THE BIS AND PAYMENT AND SETTLEMENT SYSTEMS

BIS Studies on Payment and Settlement Systems

THE COMMITTEE ON PAYMENT AND SETTLEMENT SYSTEMS

Improvements in Foreign Exchange, Derivatives, and Securities Trading

Core Principles for Payment Systems

Recent Work of the CPSS

CHAPTER 8 The Bank for International Settlements and Its Relations with Central Banks

BIS FUNCTIONS WITH CENTRAL BANKS

Deposits and Loans

Investment Services

Gold Operations

Shareholder Central Banks

THE BIS AS A FORUM FOR CENTRAL BANKS

Regular Consultations with Central Banks7

Information Gathering and Analysis

Cooperative Efforts with LDCs

PERMANENT COMMITTEES

Committee on Banking Supervision

Committee on Payment and Settlement Systems

COOPERATION WITH REGIONAL CENTRAL BANKS

Asian Consultative Council.

TECHNICAL ASSISTANCE

CONFIDENTIALITY OF BIS OPERATIONS

THE BIS AND THE FED

The Fed and the G10

CHAPTER 9 The Bank for International Settlements and Other International Financial Institutions

THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK

The BIS and the IMF

The BIS and the World Bank

Currency Crises

The Basle Capital Accord and the IMF

Financial Stability Forum

THE BIS AND THE EUROPEAN CENTRAL BANK

JOINT VIENNA INSTITUTE

Other Relationships

CHAPTER 10 The Bank for International Settlements and Insurance Supervisors

Regulatory and Supervisory Problems in the Insurance Industry

Major International Supervisory Organizations

Other Supervisory Agencies

INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS

Establishment and Operations

BIS and the IAIS

Joint Year 2000 Council

IAIS Training Programs

CHAPTER 11 Research and Miscellaneous Activities

Monetary and Economic Research

Quarterly Review

Annual Report

Other Reports and Data Gathering

THE Y2K PROBLEM

The BIS and Y2K

OTHER BIS ACTIVITIES

Miscellaneous Meetings and Activities

CHAPTER 12 Nazi Gold, the Bank for International Settlements, and Central Banks

EUROPEAN CENTRAL BANKS AND THE NAZI REGIME

Swiss Banking Crisis

Swedish Central Banks

Other Neutrals' Activities6

BIS GOLD OPERATIONS DURING WORLD WAR II

After the War

The Tripartite Gold Commission

Disclosure Decree

Further Developments

How Nazis Laundered Gold

Why Restitution Took So Long

The Postwar German Contribution

CHAPTER 13 Evaluation and Conclusions

INTRODUCTION.

The 1970s

The 1980s

The 1990s

EVALUATION OF THE BIS 1970-2000

THE SORDID PAST

A BIS AGENDA FOR THE FUTURE

Illegal Money Laundering

The Hedge Fund/Reinsurance Problem

Other Insurance Regulatory Issues

Transparency in Financial and Banking Transactions

CONCLUSIONS

Criticism

The Praise

The Future

Appendix I Balance Sheet: Bank for International Settlements

Appendix II Profit and Loss Account: Bank for International Settlements

Selected Bibliography

WEB SITES USED

Index.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

ISBN:

9798400616341

9786610913688

9781280913686

1280913681

9780313006807

0313006806

OCLC:

70743309