HC Deb 20 May 1930 vol 239 cc213-4
48. Lieut. - Commander KENWORTHY

asked the Chancellor of the Exchequer who are the British members of the governing body and the administrative coun- cil, respectively, of the Bank of International Settlement; and who has been responsible for the appointment of the members of these bodies?


Under Article 27 of the Statutes of the Bank for International Settlements, the administration of the Bank is vested in the Board, and there are not two distinct bodies entitled the "governing body" and the "administrative council." The British members of the Board are the Governor of the Bank of England and Sir Charles Addis, K.C.M.G. As regards the method of appointment of the Board of the Bank, I would refer the hon. and gallant Member to Article 28 of the Statutes (Command Paper 3484, page 120) from which it will be seen that the appointments are made by the Governors of the Central Banks.

Lieut. - Commander KENWORTHY

Can my right hon. Friend explain why the President and Vice-President are Americans, the Director-General a Frenchman, and his Deputy a German, and why none of the higher posts are held by British subjects?


As I have already said, that is a matter which rests with the Bank, and there are probably reasons which they regard as satisfactory why these particular appointments have been made.