Accounting and Use of SDRs
Since 2004, the BIS has published its accounts in terms of special drawing rights, or SDRs, replacing the gold franc as the bank's unit of account. As of March 2007 (end of month) the bank had total assets of $409.15 billion, given a dollar/SDR exchange rate of 1.51 for March 30, 2007. Included in that total is 150 tons of fine gold.
Read more about this topic: Bank For International Settlements
Famous quotes containing the word accounting:
“At the crash of economic collapse of which the rumblings can already be heard, the sleeping soldiers of the proletariat will awake as at the fanfare of the Last Judgment and the corpses of the victims of the struggle will arise and demand an accounting from those who are loaded down with curses.”
—Karl Liebknecht (1871–1919)