Financial and Banking News


BIS Detects Increase in OPEC Deposits

According to the latest quarterly report of the Bank for International Settlements (BIS) deposits by OPEC countries in the international banking system, which remained un- changed during the first quarter of this year, expanded by $2.8bn (excluding exchange rate effects) during the second quarter. The bulk of this extra amount was placed with banks in the US, while $1.7bn of it was obtained from the...