End Central Banks' BIS Boss, Too?

BIS: Lending To Developed Country Banks Falls by $296B ... Banks cut their international lending to each other during the second quarter, and in particular to lenders in the U.K. and the U.S., according to a report by the Bank for International Settlements. The BIS report released on Wednesday said total cross-border lending fell $185 billion, or 0.6%, in the three months to the end of June, to $35.6 trillion, compared with the first quarter. Cross-border lending rose $634 billion in the first quarter. – Dow Jones

Dominant Social Theme: What's the BIS? We can't keep track of all these nonsensical international organizations ... What does the BIS do? What does the B stand for? Is it a global bowling league?

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