Not exactly. The BIS is owned by 55 central banks... which implies that it is subordinate to them, not the other way around. It is a way for banks to lend reser

Not exactly. The BIS is owned by 55 central banks... which implies that it is subordinate to them, not the other way around. It is a way for banks to lend reserves to one another, basically. So it is a ledger, for sure, but a debt-based on that exists only for easy transaction settlement and not as the “scorecard” of wealth that a true ledger would imply.