b is Advertises Gold Interventions

7/30/2019 b is Advertises Gold Interventions

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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



cooperation



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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



cooperation



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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

b is Advertises Gold Interventions

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