Central Banking

Trichet backs disputed BIS share buyback plan

Bank of France governor Jean-Claude Trichet said on Wednesday that he believed a disputed plan by the Bank for International Settlements to buy out private shareholders was fair.

"I think the proposal which was made by the BIS was a very good one. We were advised to do that by the most pertinent and reliable signatures in the world," Trichet said, referring to the investment bank which advised the BIS on the offer. "The proposal which has been made seems to be fair...not only in the eyes of th