From 2008 to 2012 the Bank’s operating costs fell by more than 10 per cent; its staff was reduced by about 700 to just over 7,000. Technology has made possible large savings in resources and improvements in services in the payment sector. We have reduced internal administration and reinforced banking and financial supervision.
The Governing Board and  2  BIS central bankers’ speeches  the Board of Directors agree on the objective of eliminating most of the Bank’s network at the provincial level. We have not ceased to recruit staff, using transparent and merit-based procedures, including innovative methods, to select highly qualified young people.