This strength of the dollar and the exceptionally  BIS Review 40/2000  2  high and sustained economic growth in the United States, led to large foreign investments in that country. In particular, long-term investments from Europe and Japan contributed to the continued economic recovery in the United States.
The Board would function as an industry-wide watchdog of the banking code and ensure that the banks comply with the banking codes. The codes would establish the banking industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their banking services. The Board will monitor compliance with the Codes by the affiliated banks.