The Bank For International Settlements

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.

A readable, engrossing examination of the oldest existing international financial institution and a balanced evaluation of its value, importance, and the good it has done weighed against the bad.

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This book examines the history, administration, evolution, and operations of the oldest existing international financial institution, highlighting its central role in the current international monetary system. The book outlines the work of the bank's permanent committees, and describes the institution's activities in the areas of banking studies, payment and settlement systems analysis, and banking and insurance supervision. The book also assesses the bank's activities during World War II, and its relationship with the Nazis. Baker teaches finance and international business at Kent State. Annotation c. Book News, Inc., Portland, OR (booknews.com)

JAMES C. BAKER is Professor of Finance and International Business at Kent State University. A fellow of the Association for Global Business, Baker has published widely on a variety of topics in international finance and business, and his articles appear frequently in such publications as the Journal of World Trade, International Journal of Finance, and Journal of International Arbitration. Among his more recent books is one published in 1999 by Quorum, Foreign Direct Investment in Less Developed Countries: The Role of ICSID and MIGA.