New BIS chief says banks weathering downturn well

In an interview with Reuters Malcolm Knight, who took over as general manager of the BIS in March, said though banks have suffered a combination of woes, including uncertainty over the Iraq war, market volatility and the economic downturn, "the overall situation remains very good".

First published by Reuters, 3 June.

The world's biggest banks are holding up well under a tough economic downturn, partly due to their use of derivative products, the new head of the Bank for International Settlements

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