Part I: Global Power Project: Exposing the Institute of International Finance
This is the first of a series of exposés focusing on the Institute of International Finance (IIF), the very “visible hand” of financial markets. It is a continuation of the Global Power Project produced by Occupy.com. Part 1 examines the origins of the IIF.
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Founded in 1983, the Institute of International Finance (IIF) describes itself as “the world’s only global association of financial institutions” with a membership that includes “most of the world’s largest commercial banks and investment banks,” along with sovereign wealth funds, asset managers, hedge funds, insurance companies, law firms, multinational corporations, development banks, multilateral agencies, credit ratings agencies and an assortment of other global financial and economic organizations. In short, the Institute of International Finance is the very visible hand of the global financial markets.
As the IIF notes on its website, its “main activities” include providing so-called “impartial analysis and research” to its members in order to “shape regulatory, financial, and economic policy issues….influence the public debate on particular policy proposals….[and work] with policymakers, regulators, and multilateral organizations… with an emphasis on voluntary market-based approaches to crisis prevention and management.”
It is also there to “provide a network for members to exchange views and offer opportunities for effective dialogue among policymakers, regulators, and private sector financial institutions.” The IIF proclaims it “is committed to being the most influential global association of financial institutions,” seeking to “sustain and enhance…. our extensive relationships with policymakers and regulators.”
The Institute of International Finance was formed at the beginning of the debt crisis of the 1980s, designed to establish a formal organization and representation for the interests of the world’s major banks and financial institutions. A meeting at Ditchley Park, England, was hosted by the National Planning Association (NPA) in May of 1982, which brought together senior representatives from major commercial banks in the industrialized Organization for Economic Co-Operation and Development (OECD) countries, as well as the Managing Director of the International Monetary Fund (IMF), Jacques de Larosiere; other top IMF and World Bank officials; the Comptroller of the Currency of the U.S., C.T. Conover; and the Head of Banking Supervision at the Bank of England, Peter Cooke, among many others. 
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