Africa. The 63 members represent the following countries: Central Bank of the Russian Federation was suspended in March 2022 (see "History", above). Leadership The first chairman was Gates W. McGarrah (1863–1940), who had risen from the job of cashier at a New York industrial bank to its president, and later the first Chairman of the Federal Reserve Bank of New York. The chairs concurrently held the role of president from April 1930 to May 1937 and July 1946 to 27 June 2005, when it was abolished. Johan Beyen of the Netherlands served as president from May 1937 to December 1939 and the position was vacant until July 1946. BIS Chairs BIS General Managers Board of directors Andrew Bailey, London Roberto Campos Neto, Brasília Shaktikanta Das, Mumbai Alejandro Díaz de León Carrillo (es), Mexico City Stefan Ingves, Stockholm Thomas Jordan, Zurich Klaas Knot, Amsterdam Haruhiko Kuroda, Tokyo Christine Lagarde, Frankfurt am Main Chang Yong Rhee, Seoul Tiff Macklem, Ottawa Jerome H. Powell, Washington, D.C. François Villeroy de Galhau, Paris Ignazio Visco, Rome John C. Williams, New York Pierre Wunsch, Brussels Yi Gang, Beijing Criticism Strong criticisms of the financial institution have been made by Dutch economist and author Ronald D. Bernard who argues that numerous transactions bordering on ethics and legality have been passed through the BIS since its founding, beginning with the business dealings that the British and Americans allegedly had with the Germans during World War II, particularly in connection with the sale of gold seized by the Nazis from German Jews: "Everything that could not stand the light of day, passed through it, by a devious means". Red Books One of the Group's first projects, a detailed review of payment system developments in the G10 countries, was published by the BIS in 1985 in the first of a series that has become known as "Red Books". Currently, the red books cover countries participating in the Committee on Payments and Market Infrastructures (CPMI). A sample of statistical data in the red books appears in the table below, where local currency is converted to US dollars using end-of-year rates. See also Bank regulation Basel III CLS Group Financial Stability Board Global financial system International Court of Justice League of Nations References External links "They've Got a Secret" by Michael Hirsh, The New York Times, 2013 (a book review of Tower of Basel, Adam LeBor, 2014) "The Money Club", by Edward