Public finance
This article is part of the series: Finance and Taxation
Taxation
Income tax  ·  Payroll tax CGT ·  Stamp duty  ·  LVT Sales tax  ·  VAT  ·  Flat tax Tax, tariff and trade Tax haven
Tax incidence
Tax rate  ·   Proportional tax Progressive tax  ·   Regressive tax Tax advantage
Taxation by country Australia • British Virgin Islands Canada • China • Colombia France • Germany • Hong Kong India • Indonesia • Ireland Netherlands • New Zealand Peru • Russia • Singapore Tanzania • United Kingdom United States • European Union  v • d • e  Tax rates around the world Tax revenue as % of GDP
Economic policy
Monetary policy Central bank  ·   Money supply Gold standard
Fiscal policy Spending  ·   Deficit  ·   Debt
Policy-mix
Trade policy Tariff  ·   Trade agreement
Finance
Financial market Financial market participants Corporate  ·   Personal Public  ·   Regulation
Banking
Fractional-reserve Full-reserve  ·   Free banking Islamic
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BIS Headquarters in Basel

BIS building by Mario Botta, in Basel. Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated Payroll tax generally refers to two kinds of taxes: Taxes which Employers are required to withhold from Employees Pay, also known as Withholding A capital gains tax (abbreviated CGT) is a Tax charged on Capital gains the profit realized on the sale of a non-inventory Asset that was purchased Stamp duty is a form of Tax that is levied on documents Historically a physical stamp (a Tax stamp) had to be attached to or impressed upon the document to denote Land value taxation (LVT (or site value taxation) is an Ad valorem tax where only the value of land itself is taxed A sales tax is a Consumption tax charged at the Point of purchase for certain goods and services Value added tax ( VAT) or goods and services tax ( GST) is a consumption Tax levied on value added. A flat tax (short for flat rate tax is a Tax system with a constant tax rate The tax tariff and trade laws of a political region State or Trade bloc determine which forms of consumption and production tend to be encouraged A tax haven is a place where certain Taxes are levied at a low rate or not at all In Economics, tax incidence is the analysis of the effect of a particular Tax on the distribution of economic welfare. In a Tax system and in Economics, the tax rate describes the burden Ratio (usually expressed as a Percentage) at which a business or person is A proportional tax is a Tax imposed so that the Tax rate is fixed as the amount subject to taxation increases A progressive tax is a Tax imposed so that the Tax rate increases as the amount subject to taxation increases A regressive tax is a Tax imposed in such a manner that the Tax rate decreases as the amount subject to taxation increases Tax advantage refers to the economic bonus which applies to certain accounts or Investments that are by Statute, tax-reduced tax-deferred or tax-free Personal income taxes See also Income tax in Australia Only the federal government imposes income taxes on individuals and this is the most significant source of Taxation in the British Virgin Islands is relatively simple by comparative standards photocopies of all of the tax laws of the British Virgin Islands would together amount to about 200 The level of Taxation in Canada is average among Organisation for Economic Co-operation and Development (OECD countries Taxes provide the most important revenue source for the Government of the People's Republic of China. See Government of Colombia for a wider perspective of Colombian government See Government of France for a wider perspective of French government Taxes in Germany —being a Federal Republic —are levied by the federation ( Bund) the States ( Länder) as well as the HK Inland Revenue Ordinance Cap112 is one of Hong Kong's Ordinances Taxes in India are levied by the Central Government and the State Governments This article ls with Taxation in Indonesia or pajak. Definitions "Pajak" in Indonesian for Tax and taxes whereas " Perpajakan The system of Taxation in Ireland is broadly similar to the system of Taxation in the United Kingdom. The Netherlands has a rich history dealing with taxation predating the Romanic period. Taxation in New Zealand is collected at a national level by the Inland Revenue Department (IRD on behalf of the Government of New Zealand. The Income tax in Peru is collected by the Superintendencia Nacional de Administración Tributaria, best known as SUNAT. The Russian Tax Code is the primary tax law for the Russian Federation. Individual income tax in Singapore forms part of two main sources of Income tax, the other being Corporate taxes on companies In Tanzania the Income Tax Act 2004 came into effect in July 2004 Taxation in the United Kingdom may involve payments to a minimum of two different levels of government The central government ( Her Majesty's Revenue and Customs) Taxation in the United States is a complex system which may involve payment to at least four different levels of government and many methods of taxation Value added tax ( VAT) or goods and services tax ( GST) is a consumption Tax levied on value added. Comparison of Tax Rates around the world is a difficult and somewhat subjective enterprise This table lists countries by total 2005 Tax revenues (federal state and local as a percentage of GDP (Gross Domestic Product Economic policy refers to the actions that Governments take in the economic field. Monetary policy is the process by which the Government, Central bank, or monetary authority of a country controls (i the Supply of Money, A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states In Economics, money supply, or money stock, is the total amount of money available in an Economy at a particular point in time The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold Fiscal policy, taking the scope of Budgetary policy, refers to government policy that attempts to influence the direction of the economy through changes in government taxes Government spending or government expenditure is classified by economists into three main types A budget deficit occurs when an Entity (often a Government) spends more Money than it takes in Government debt (also known as public debt or national debt) is Money (or credit) owed by any level of government either Central government Trade is the willing exchange of goods, services, or both Trade is also called Commerce. For other uses of this word see Tariff (disambiguation. A tariff is a tax imposed on goods when they are moved across a political boundary A trade pact is a wide ranging Tax tariff and trade pact that often includes Investment guarantees The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated In Economics, a financial market is a mechanism that allows people to easily buy and sell ( Trade) financial Securities (such as stocks and bonds There are two basic financial market participant categories Investor vs Corporate finance is an area of Finance dealing with the financial decisions Corporations make and the tools and analysis used to make these decisions Personal finance is the application of the principles of Finance to the monetary decisions of an individual or family unit Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities Financial regulations are a form of Regulation or supervision which subjects Financial institutions to certain requirements restrictions and guidelines aiming to A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money Fractional-reserve banking is the banking practice in which Banks keep only a fraction of the value of their Bank notes and demand deposits in reserve Full-reserve banking is the Banking practice in which the full amount of each depositor's funds are available in reserve at the bank when each depositor Free banking is a theory of Banking in which commercial banks and market forces control the provision of banking services Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law ( Sharia) principles and guided by Islamic economics Mario Botta (born April 1, 1943) is a famous modern Architect born in Mendrisio, Ticino canton Switzerland. "Basilia" redirects here For the Fly Genus, see Basilia (fly.

The Bank for International Settlements (or BIS) is an international organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks. International Organization is a peer-reviewed Academic journal that covers the entire field of International affairs. A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states " ^[1] The BIS carries out its work through subcommittees, the secretariats it hosts, and through its annual General Meeting of all members. It also provides banking services, but only to central banks, or to international organizations like itself. Based in Basel, Switzerland, the BIS was established by the Hague agreements of 1930. "Basilia" redirects here For the Fly Genus, see Basilia (fly. Switzerland (English pronunciation; Schweiz Swiss German: Schwyz or Schwiiz Suisse Svizzera Svizra officially the Swiss Confederation Year 1930 ( MCMXXX) was a Common year starting on Wednesday (link will display 1930 calendar of the Gregorian calendar. The name of the BIS in German: Bank für Internationalen Zahlungsausgleich (BIZ), in French: Banque des Reglements Internationaux (BRI), in Italian: Banca dei Regolamenti Internazionali (BRI), in Spanish (not an official BIS language): Banco de Pagos Internacionales (BPI). It has representative offices in Hong Kong (SAR) and Mexico City.

Organization of central banks

As an organization of central banks, the BIS seeks to make monetary policy more predictable and transparent among its 55 member central banks. Monetary policy is the process by which the Government, Central bank, or monetary authority of a country controls (i the Supply of Money, While monetary policy is determined by each sovereign nation, it is subject to central and private banking scrutiny and potentially to speculation that affects foreign exchange rates and especially the fate of export economies. The foreign exchange ( currency or forex or FX) market refers to the market for currencies. In Economics, an export is any good or Commodity, Transported from one country to another country in a Legitimate fashion Failures to keep monetary policy in line with reality and make monetary reforms in time, preferably as a simultaneous policy among all 55 member banks and also involving the International Monetary Fund, have historically led to losses in the billions as banks try to maintain a policy using open market methods that have proven to be unrealistic. Monetary Reform describes any movement or theory that proposes a different system of supplying Money and financing the economy than the current system Simultaneous policy requires governments in all jurisdictions at once worldwide to implement a policy shift at once so that none is disadvantaged or unfairly advantaged The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic In Economics, the open market is the term used to refer to the environment in which bonds are bought and sold Central banks do not unilaterally "set" rates, rather they set goals and intervene using their massive financial resources and regulatory powers to achieve monetary targets they set. One reason to coordinate policy closely is to ensure that this does not become too expensive and that opportunities for private arbitrage exploiting shifts in policy or difference in policy, are rare and quickly removed. In Economics and Finance, arbitrage is the practice of taking advantage of a price differential between two or more Markets striking a combination of matching

Two aspects of monetary policy have proven to be particularly sensitive, and the BIS therefore has two specific goals: to regulate capital adequacy and make reserve requirements transparent. The capital requirement is a Bank regulation, which sets a framework on how Banks and Depository institutions must handle their capital. The reserve requirement (or required reserve ratio) is a Bank regulation that sets the minimum reserves each Bank must hold to customer

Regulates capital adequacy

Capital adequacy policy applies to equity and capital assets. Software for Fixed assets management and Stock control developed in 2004. Capital asset has two related meanings in the fields of accounting and financial economics These can be overvalued in many circumstances. Accordingly the BIS requires bank capital/asset ratio to be above a prescribed minimum international standard, for the protection of all central banks involved. The BIS' main role is in setting capital adequacy requirements. From an international point of view, ensuring capital adequacy is the most important problem between central banks, as speculative lending based on inadequate underlying capital and widely varying liability rules causes economic crises as "bad money drives out good" (Gresham's Law). Gresham's law is commonly stated "Bad money drives out good Specific policies are explained below.

Encourages reserve transparency

Reserve policy is also important, especially to consumers and the domestic economy. To insure liquidity and limit liability to the larger economy, banks cannot create money in specific industries or regions without limit. Market liquidity is a Business, Economics or Investment term that refers to an Asset 's ability to be easily converted through an act of buying To make bank depositing and borrowing safer for customers and reduce risk of bank runs, banks are required to set aside or "reserve".

Reserve policy is harder to standardize as it depends on local conditions and is often fine-tuned to make industry-specific or region-specific changes, especially within large developing nations. Developing countries are countries that haven't reached Western-style standards of democratic government free market economy industrialization social programs and human rights guaranties For instance, the People's Bank of China requires urban banks to hold 7% reserves while letting rural banks continue to hold only 6%, and simultaneously telling all banks that reserve requirements on certain overheated industries would rise sharply or penalties would be laid if investments in them did not stop completely. The People's Bank of China ( PBC or PBOC) ( is the Central bank of the People's Republic of China (not to be confused with the Bank The PBoC is thus unusual in acting as a national bank, focused on the country not on the currency, but its desire to control asset inflation is increasingly shared among BIS members who fear "bubbles", and among exporting countries that find it difficult to manage the diverse requirements of the domestic economy, especially rural agriculture, and an export economy, especially in manufactured goods. The term national Bank has several meanings especially in Developing countries, a bank owned by the State an ordinary private Assets inflation is an economic phenomenon denoting a rise in Price of Assets as opposed to ordinary Goods and services. An economic bubble (sometimes referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, or a speculative Effectively, the PBoC sets different reserve levels for domestic and export styles of development. Historically, the US also did this, by dividing federal monetary management into nine regions, in which the less-developed Western US had looser policies.

For various reasons it has become quite difficult to accurately assess reserves on more than simple loan instruments, and this plus the regional differences has tended to discourage standardizing any reserve rules at the global BIS scale. Historically, the BIS did set some standards which favoured lending money to private landowners (at about 5 to 1) and for-profit corporations (at about 2 to 1) over loans to individuals. These distinctions reflecting classical economics were superseded by policies relying on undifferentiated market values - more in line with neoclassical economics. Classical economics is widely regarded as the first modern school of economic thought. Neoclassical economics is a term variously used for approaches to Economics focusing on the determination of prices outputs and income distributions in markets

Tier 1 vs. Total capital

The BIS sets "requirements on two categories of capital, Tier 1 capital and Total capital. Tier 1 capital is the book value of its stock plus retained earnings. Tier 1 capital is the core measure of a Bank 's financial strength from a Regulator 's point of view Tier 2 capital is loan-loss reserves plus subordinated debt. Tier 2 capital is a measure of a bank's financial strength with regard to the second most reliable form of Financial capital, from a Regulator 's point of view Total capital is the sum of Tier 1 and Tier 2 capital. Tier 1 capital must be at least 4% of total risk-weighted assets. Total capital must be at least 8% of total risk-weighted assets. When a bank creates a deposit to fund a loan, its assets and liabilities increase equally, with no increase in equity. That causes its capital ratio to drop. Thus the capital requirement limits the total amount of credit that a bank may issue. It is important to note that the capital requirement applies to assets while the bank reserve requirement applies to liabilities. " - from an extremely detailed and robust account of the use of reserve policy and other central bank powers in China by Henry C. K. Liu.

Goal: a financial safety net

The relatively narrow role the BIS plays today does not reflect its ambitions or historical role.

A "well-designed financial safety net, supported by strong prudential regulation and supervision, effective laws that are enforced, and sound accounting and disclosure regimes," are among the Bank's goals. Accounting reform is an expansion to Accounting rules that goes beyond the realm of financial measures for both individual economic entities and national economies In fact they have been in its mandate since its founding in 1930 as a means to enforce the Treaty of Versailles. The Treaty of Versailles was one of the peace treaties at the end of World War I. See history below.

The BIS has historically had less power to enforce this "safety net" than it deems necessary. Recent head Andrew Crocket has bemoaned its inability to "hardwire the credit culture," despite many specific attempts to address specific concerns such as the growth of Offshore Financial Centres (OFCs), Highly Leveraged Institutions (HLIs), Large and Complex Financial Institutions (LCFIs), deposit insurance and especially the spread of money laundering and accounting scandals. An offshore financial centre (or OFC) although not precisely defined is usually a low- Tax, lightly Regulated jurisdiction which specializes in providing Large and Complex Financial Institutions, or LCFI is a polite term for the Bulge bracket banks Explicit deposit insurance is a measure introduced by Policy makers in many Countries to protect deposits in full or in part in the event of a "run" Money laundering is the practice of engaging in financial Transactions in order to conceal the Identity, source and/or destination of Money, Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives

History

Despite its recent history of taking a narrow central bank mediation role, the BIS was originally formed to facilitate money transfers arising from settling an obligation arising from a peace treaty. After World War I, the need for the bank was suggested in 1929 by the Young Committee, as a means of transfer for German reparations payments - see Treaty of Versailles. World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All The Young Plan was a program for settlement of German reparations debts after World War I. The Treaty of Versailles was one of the peace treaties at the end of World War I. The plan was agreed in August of that year at a conference at the Hague, and a charter for the bank was drafted at the International Bankers Conference at Baden Baden in November. Baden-Baden is a town in Baden-Württemberg, Germany. It is located on the western foothills of the Black Forest, on the banks of the Oos River The charter was adopted at a second Hague Conference on January 20, 1930. Events 250 - Emperor Decius begins a widespread persecution of Christians in Rome. Year 1930 ( MCMXXX) was a Common year starting on Wednesday (link will display 1930 calendar of the Gregorian calendar.

The BIS was originally owned by both the governments and private individuals, since the United States and France had decided to sell some of their shares to private investors. The Economy of the United States is the largest national economy in the world This article addresses the current economic situation of France In financial markets, a share is a Unit of account for various financial instruments including Stocks Mutual funds Limited partnerships BIS shares traded on stock markets, which made the bank a unique organisation: an international organisation (in the technical sense of public international law), yet with private shareholders. International law is the term commonly used for referring to the system of implicit and explicit agreements that bind together nation-states in adherence to recognized values and standards Many central banks had similarly started as such private institutions, for example the Bank of England was privately owned until 1946. The Bank of England (formally the Governor and Company of the Bank of England) is a state-owned institution and the Central bank of the United Kingdom In more recent years the BIS has forcibly bought back all shares held by private investors, and is now wholly owned by its member central banks.

Since 2004, the BIS has published its accounts in terms of Special Drawing Rights, or SDRs, replacing the Gold Franc as the bank's unit of account. Special Drawing Rights ( SDRs) is a potential claim on the freely usable currencies of International Monetary Fund members The gold franc was the unit of account for the Bank for International Settlements from 1930 until April 1, 2003. A unit of account is a standard monetary unit of measurement of the market value/cost of goods services or assets As of March 31, 2007, the bank had total assets of U. Events 307 - After divorcing his wife Minervina, Constantine marries Fausta, the daughter of the retired Roman Emperor Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. S. $409. 15 billion, given a dollar/SDR exchange rate of 1. 51 for March 30, 2007. Events 240 BC - 1st recorded Perihelion passage of Halley's Comet. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Included in that total were 150 tonnes of fine gold.

Role in banking supervision

The BIS provides the Basel Committee on Banking Supervision with its twelve-member secretariat, and with it has played a central role in establishing the Basel Capital Accords of 1988 and 2004. The Basel Committee on Banking Supervision is an institution created by the Central bank Governors of the Group of Ten nations. The Basel Accord(s or Basle Accord(s (see spelling section below refers to the banking supervision Accords (recommendations on banking laws and regulations There remain significant differences between US, EU and UN officials regarding the degree of capital adequacy and reserve controls that global banking now requires. Put extremely simply, the US as of 2006 favoured strong strict central controls in the spirit of the original 1988 accords, the EU was more inclined to a distributed system managed collectively with a committee able to approve some exceptions. The UN agencies especially ICLEI are firmly committed to fundamental risk measures: the so-called triple bottom line and were becoming critical of central banking as an institutional structure for ignoring fundamental risks in favour of technical risk management. The triple bottom line (or " TBL " " 3BL " or " People Planet Profit " captures an expanded spectrum of values and criteria For non-business risks see Risk or the disambiguation page Risk analysis.

Criticism

The UN agencies are echoing a broader complaint. It has been argued by numerous critics of capitalism, including George Soros, that there is no current will to enforce any significant regulation in the present competitive financial industry. Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where George Soros (ˈsɔroʊs or /ˈsɔrəs/ Hungarian ˈʃoroʃ (born August 12, 1930, in Budapest, Hungary, as György Schwartz) is In this situation nations effectively compete to offer less regulation.

Asserting that a stronger role for the BIS is a necessary hedge against the ideology prevailing at the International Monetary Fund, stick reserve and capital discipline are based on a non-ideological analysis of fundamental liabilities. The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic To prevent disastrous cases like the IMF, the BIS must rationally and scientifically assess risk in oder to prevent load disbursement from passing development policy trends.

Other doubts about the BIS's mandate, its program, its effectiveness, and the desirability of any existing institution taking the lead role in accounting reform, especially in light of serious failures of money-laundering law enforcement, major breaches of prudence and supervision in the United States (e. Accounting reform is an expansion to Accounting rules that goes beyond the realm of financial measures for both individual economic entities and national economies g. Enron), have led to some minor critique of the BIS in the anti-capitalism and anti-globalization movements. Enron Creditors Recovery Corporation (formerly Enron Corporation, former NYSE ticker symbol ENE was an American Energy company based in Anti-capitalism describes a wide variety of movements ideas and attitudes which oppose Capitalism. " Anti-globalization " is a term that encompasses a number of related ideas This is incidental usually to critiques of the IMF and World Bank, whose role is far more visible, and which have far more discretion in their policy. The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e

The BIS is also a frequent target of allegations by conspiracy theorists, many of whom portray it as a front organization through which a wealthy elite controls the world. A conspiracy theory attributes the ultimate cause of an event or chain of events (usually Political, Social or Historical events or the concealment Some argue that the bank has not helped matters through a culture of secretiveness, and that lack of information always encourages some people to imagine what they do not know.

Nazi Gold controversy

It is still yet undetermined who was exactly responsible for the movement ₤6,000,000 of Czechoslovak gold from the Bank of England to the German Reichsbank, in 1939. ^[2]

Board of Directors

• Jean-Pierre Roth, Zürich (Chairman of the Board of Directors)
• Hans Tietmeyer, Frankfurt am Main (Vice-Chairman)
• Nout H E M Wellink, Amsterdam
• Axel Weber, Frankfurt am Main
• Mario Draghi, Rome
• Fabrizio Saccomanni, Rome
• Mark Carney, Ottawa
• Toshihiko Fukui, Tokyo
• Timothy F Geithner, Federal Reserve Bank of New York
• Ben Bernanke, Federal Reserve Chairman, Washington DC
• Lord George, London
• Jean-Pierre Landau, Paris
• Christian Noyer, Paris
• Stefan Ingves, Stockholm
• Mervyn King, London
• Guy Quaden, Brussels
• Alfons Vicomte Verplaetse, Brussels
• Guillermo Ortiz Martínez, Mexico City
• Zhou Xiaochuan, Beijing
• Jean-Claude Trichet, Frankfurt am Main

Management

• General Manager: Malcolm D. Hans Tietmeyer is a German economist and regarded as one of the foremost experts on international financial matters Mario Draghi (born September 3, 1947) is an Italian Banker and Economist who has been governor of the Bank of Italy Mark J Carney (born March 16, 1965) is the Governor of the Bank of Canada. The Federal Reserve Bank of New York is the most important of the twelve Federal Reserve Banks of the United States. Ben Shalom Bernanke (born December 13, 1953) is the incumbent Chairman of the Board of Governors of the United States Federal Reserve. Christian Noyer (born 6 October 1950 in Soisy-sous-Montmorency, Val-d'Oise) is a French higher civil servant current governor of Guy Baron Quaden ( Liège, Belgium, 5 August 1945) is a Belgian economist and since 1 March 1999 Governor of Guillermo Ortiz Martínez (born July 21, 1948 in Mexico City) Ortiz Martínez is the son of Gen Dr Zhou Xiaochuan ( is a Chinese economist reformist and bureaucrat Jean-Claude Trichet (born 20 December 1942 is a French Civil servant who is the current president of the European Central Bank since 2003 Knight ([1]) (1 April 2003 -). Andrew Crockett (- 1 April 2003).

Quotes

". . . the powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. "

Carroll Quigley, Tragedy and Hope: A History of the World in Our Time (1966)

See also

• Bank regulation
• Enron

References

External links

• BIS website
• Global Banking: The Bank For International Settlements An analysis of the origins and functions of the BIS.
• Bank for International Settlements Address by John Percival Day to the Empire Club of Canada, January 9, 1930. The Empire Club of Canada, established in 1903 is a Canadian speakers' forums
• The Money Club By Edward Jay Epstein, Harpers, 1983. Edward Jay Epstein (born 1935 is an American Journalist. Epstein attended Cornell University during the 1960s where he received his BA Harper's Magazine (also Harper's) is a monthly general-interest Magazine of literature politics culture finance and the arts
• Andrew Crockett statement to the IMF.
• An account of the use of reserve policy and other central bank powers in China By Henry C K Liu in the Asia Times. Asia Times was a Newspaper launched in Thailand by Thai tycoon Sondhi Limthongkul in 1995
• http://bis2information.org: Practical articles, on BIS2 and risk modelling, submitted by professionals to help create an industry standard.
• A video documentary about the BIS role in financing Nazi Germany by British Television (HI QUALITY) (LOW QUALITY)