debt accumulation

Introduction

The oldest multi-governmental financial institution, the Basel-based Bank for International Settlements, publishes one of the most authoritative overviews of the financial system’s state of play in the form of its annual report. This year’s report was published in late June. Although the banking system remains central to its work, in view of the intertwining of bank and capital markets financing and trading, for some decades now the two components have grown ever more inseparable. Both now figure at length in the report.

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