Central banks have rarely had more influence over our lives, and the institution that connects them is among the least understood in global finance.
The Bank for International Settlements, founded in 1930, is the bank for central banks. It sits beyond the reach of any national jurisdiction, and it is where the world’s monetary policymakers meet, co-ordinate and set much of the research agenda that shapes decisions elsewhere.
In a revised and updated edition of Tower of Basel: The Shadowy History of the Secret Bank that Runs the World, Adam LeBor examines how the BIS works and what it has become. Two new chapters cover its role in developing central bank digital currencies, and the questions these raise about privacy, civil liberties and personal financial autonomy.
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