9  BIS 2014–2015 Annual Report, page 85 reports that daily global financial exchange turnover totalled USD5.3 trillion in 2013, equivalent on an annual basis to 25 times global GDP. Total central bank foreign exchange reserves are currently around USD11.6 trillion.
4  BIS central bankers’ speeches  financing at declining spreads, fearful of missing out on the returns captured by those who preceded them. 10 The combination of massive financial assets under management (totalling USD75 trillion in 2013), extraordinary advances in computing power, instantaneous information and reduced capital controls mean that financial markets have become deeply integrated around the globe.