The Bank of England acts because the banker of the Authorities and it sustains the consolidated Fund account of the Authorities. We’re not saying that you will lose cash in main western banks at this time either, but not-so-subtle hints just like the sub-prime disaster, the Northern Rock and Bradford and Bingley issues in the UK, and the Societe Generale scandal in France, do counsel that we must be trying to make investments at the very least a part of our portfolios in small, impartial locations which haven’t got such a high degree of exposure to dangerous practices.
The company is a common bank and has divisions supporting French Networks, Global Transaction Banking, International Retail Banking, Financial Companies, Company and Investment Banking, Private Banking, Asset Management and Securities Companies.
Bear in mind we’re speaking about offshore banks right here, not commonly licensed common banks which are audited and watched far more closely by the federal government and usually by a special government agency than the company supervising offshore banks.
Whenever you read the offshore financial institution liquidation horror stories you see that the cash trail goes from nation to nation, financial institution to financial institution after which it finally ends up with a big money withdrawal which is normally the end of the path.
It comprises senior representatives of nationwide monetary authorities (central banks, regulatory and supervisory authorities and ministries of finance), worldwide financial establishments, standard setting bodies, and committees of central bank consultants.