When I attend board of directors meetings at regional Reserve Banks, which I do regularly, one of the most interesting portions is the go-round, during which each director provides his or her perspective on local economic developments. Quite often, the directors who are community bankers provide some of the most valuable contributions. That fact should not be surprising.
1/2  BIS central bankers' speeches  (7.1) Over past several decades, Finance Commissions have adopted different approaches with regard to principles of tax devolution, grants to be given to states and fiscal consolidation issues.