BIS central bankers’ speeches  1  Chart 1 Current account balance of Japan Ratio to nominal GDP  Entering the 1980s, Japan’s trade and current account surplus increased sharply and this was accompanied by increased external pressure, both bilaterally and multilaterally, to reduce Japan’s surplus.
Speech by Frank Elderson at DNB Banking Seminar “The art of transformation - will banks keep up?”, Amsterdam, Hermitage, 8 February 2017  Ladies and gentlemen,  Throughout time, mankind has been shaped by wave after wave of changes. Economic boom and bust. Social and political upheaval. Scientific developments that transformed how we travelled, produced and consumed.