b is advertises gold interventions
TRANSCRIPT
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The Bank for International Settlements:An introduction
Jean-Franois Rigaudy
Head of Treasury
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Agenda
I. Corporate purpose and structure
II. Fostering international monetary and financial
cooperation
III. The bank of central banks
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Corporate objects of the BIS
Article 3 of BIS Statutes:
to promote the co-operation of central banks and to provideadditional facilities for international financial operations
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Ownership of BIS
SingaporeMalaysiaIcelandChina
and the European Central Bank
United StatesSaudi ArabiaRepublic of
Macedonia
HungaryChile
United KingdomRussiaLithuaniaHong Kong SARCanada
TurkeyRomaniaLatviaGreeceBulgaria
ThailandPortugalKoreaGermanyBrazil
SwitzerlandPolandJapanFranceBosnia and
Herzegovina
SwedenPhilippinesItalyFinlandBelgium
SpainNorwayIsraelEstoniaAustria
South AfricaNew ZealandIrelandDenmarkAustralia
SloveniaThe NetherlandsIndonesiaCzech RepublicArgentina
SlovakiaMexicoIndiaCroatiaAlgeria
BIS shareholders are the central banks or monetary authorities of*:
*Board members in bold
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Basic structure of the BIS
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Main features
z 578 Staff
z 48 nationalities
z Two regional representative offices
In Hong Kong for Asia and the Pacific
In Mexico City for the Americas
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Agenda
I. Corporate purpose and structure
II. Fostering international monetary and financial
cooperation
III. The bank of central banks
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Meetings
z Bi-monthly meetings of Governors: Global Economy,Review Meeting, All Governors, G10, Emerging Markets
z Deputy Governors and senior officialsz Economists and technicians
z BIS Representative Offices
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Supporting the Standing Committees
z Basel Committee on Banking Supervision
z Committee on the Global Financial System
z Committee on Payment and Settlement Systemsz Markets Committee
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Information and statistics
z Irving Fisher Committee on Central Bank Statistics
z Inter-Agency Task Force on Financial Statistics
z Statistical Data and Metadata Exchange (SDMX)
z BIS Data Bank
z Data on Central Bank Governance
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Research agenda
z Supporting the policy work of committees
z Financial and monetary stability
z Topics relevant to many central banks whether from
industrial or emerging markets
Inflation targeting procedures
Transmission mechanism of monetary policy
Nexus between monetary and financial stability
Market functioning, in particular liquidity
Macro-prudential approaches to financial regulation
Credit cycles and asset prices Modelling and trading of credit risk
Etc
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Publications: www.bis.org
z Annual Report: view of BIS on global monetary and current
financial issues
z Quarterly Review: topical issues
zPublications of committees
z Regular statistics
Quarterly banking statistics, bond markets, external debt
Triennial survey on foreign exchange and derivatives market
activities (latest in 2007)
z Research papers
BIS papers, BIS working papers and others
z Press & Communications
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Based at BIS: Financial Stability Forum and others
z Financial Stability Forum assess vulnerabilities, identify/oversee
action, coordinate across regulatory areas (1999)
Reports on HLI, offshore centres, capital flows Implementation of standards
Website: www.fsforum.org
z International Association of Insurance Supervisors (1994)
Website: www.iaisweb.org
z International Association of Deposit Insurers (2002)
Website: www.iadi.org
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Agenda
I. Corporate purpose and structure
II. Fostering international monetary and financial
cooperation
III. The bank of central banks
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BIS share = 6%
Some 130 central banks, plus a number of international
institutions, currently make active use of BIS banking services.
Customer base
Global
Foreign
Exchange
Reserves
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Assets Liabilities
Gold 31.5 Equity
Claims on public sector Paid up capital 0.7
Government, CBs, int institutions Reserves 10.0
& public sector 112.7 Other equity accounts 2.5
Reverse repos 91.9
Claims on commercial banks Customer deposits
Time deposits 62.1 in gold 29.1
in currencies 236.1
Derivatives & other 12.9 Repos, derivatives & other 32.8
Total assets 311.1 Total equity & liabilities 311.1
Our Balance SheetAs at 31 March 2008; in SDR billion
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Tradable InstrumentsTradable Instruments
Forex & Gold ServicesForex & Gold Services
Asset ManagementAsset Management
Our products
Money Markets Fixed and floating rate deposits
Call/notice accounts
FIXBIS (up to 1 year)
MTI & Callable MTI (1 - 10 years)
Dedicated portfolios
BIS Investment Pool (BISIP)
Money Markets
Interventions
Commercial orders
Currency allocation
Dual currency deposits
On
balance
sheet
Off
balance
sheet
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Europe 21%
Africa & Middle
East 17%
Asia & Pacific 37%
Americas
International
institutions
22%
3%
Distribution of BIS customer placementsAt end-March 2008
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Customer placements by currencyIn billions of SDR
0
50
100
150
200
2003/04 2004/05 2005/06 2006/07 2007/08
USD EUR GBP Other currencies
62% 65%
65% 62%
21% 18%
21%
20%
66%
20%
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Customer placements by productCustomer placements in currencies, in billions of SDR
0
50
100
150
200
250
2003/04 2004/05 2005/06 2006/07 2007/08
Medium-term instruments (MTIs)
FIXBIS
Other short-term instruments
44%36%
43%39%
36%
26%
34%
25%
22%18%
30%
33%
33%
29%
43%
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Asset Management Unit: Assets under management
As at end-March 2008
External Mandates: USD 10.0 bn
by customer/regionTotal: USD 28.3 bn
by assets/currency
USD Govt, 20%
USD Credit, 11%
EUR Govt, 33%
JPY Govt, 7%
GBP Govt, 7%
Global, 7%
Asian Credit, 5%
Admin/Other, 9%
MBS Outsour ced,2%
Asia-Pacific
49%
Africa/Middle East
35%
Europe
9%
Americas
7%
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Our Governance Structure
Compliance &
Operational
Risk Management
Board of Directors
Chairman of the
Board of Directors
Legal Service
General Counsel, ManagerRisk Control
Banking Department
Head of Banking Department
General Secretariat
Secretary General
Monetary & Economic Dept.
Economic Adviser
FinanceIT Services
Building, Security,
Logistics
.....
Treasury
Asset Management
Operations
Financial Analysis
Audit Committee
Internal Audit
Board sets general
risk framework
General Manager
-
Deputy General Manager
FICO Sets risk policy of the
Bank
Risk Control isindependent
from Banking
Department
Consultative
Committee
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z Market Risk Group:
Middle Office computes performance
Risk Control set and monitors market risk limits
z Credit Risk Group:
Sets and monitors credit risk limits
z Risk Methodology Group
Risk Control
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Mexico City Office+52 55 91380290
Hong Kong SAR Office
+852 2878 7100
BIS global servicesBasel Headquarters
+41 61 280 8080