EXCLUSIVE LICENSE AGREEMENT TO PUBLISH IN THE JOURNAL
Date:
Contributor address:

Contributor name:Bank for International Settlements

Centralbahnplatz 2 4002 Basel, Switzerland

Author(s):Manuscript number (if known):
Re: Manuscript entitledfor publication in(the “Contribution”)(the “Journal”)

published by the publisher identified in the Journal (“Wiley”) for itself or on behalf of the society or other organization identified in the Journal as thecopyright owner of the Journal (the “Owner”).
Dear Contributor(s):Thank you for submitting your Contribution for publication. In order to expedite the editing and publishing process and enable the Owner of the Journal todisseminate your Contribution to the fullest extent, we need to have this Exclusive License Agreement to publish in the Journal executed. If the Contribution
is not accepted for publication, or if the Contribution is subsequently rejected, this Agreement shall be null and void. Publication cannot proceedwithout a signed copy of this Agreement. Please download, sign and email the scanned document to the Journal Production Editor (contact
details to be found via the journal’s Guidelines to Authors).

A. COPYRIGHT

c. The right to transmit, print and share copies with colleagues.

1. The Contributor retains the copyright to the Contribution. The Contributor
grants to the Owner of the Journal an exclusive license to publish in the Journal
the Contribution during the full term of copyright and any extensions orrenewals, including but not limited to the right to publish, republish, transmit,sell, distribute and otherwise use the Contribution in whole or in part in electronic
and print editions of the Journal and in derivative works throughout the world, in
all languages and in all media of expression now known or later developed, andto license or permit others to do so.

d. The same set of rights as retained by the Contributor in 1.a. and 1.b.
above is hereby granted to the Contributor’s co-Contributors.

2. Reproduction, posting, transmission or other distribution or use of the final
Contribution in whole or in part in any medium by the Contributor as permit- tedby this Agreement requires a citation to the Journal suitable in form and content
as follows: (Title of Article, Contributor, Author(s), Journal Title and Volume/Issue, Copyright © [year], copyright owner as specified in the Journal, Publisher).
The copyright in the Contribution will be held in the name of the Contributor inthe Journal. Links to the final article on the publisher website are encouraged
where appropriate.
B. RETAINED RIGHTSThe Contributor retains all other proprietary rights, such as patent rights, in any
process, procedure or article of manufacture described in the Contribution. The
Contributor and its co-Contributors retain the right to use the data/data setsaccompanying any version of the Contribution as they deem appropriate,including but not limited to performing and engaging in text mining /datamining activities, and allowing others to do the same.
C. USES BY CONTRIBUTOR(S) AND/OR AUTHORS
1. Submitted Version. The Owner licenses back the following rights to theContributor in the version of the Contribution as originally submitted for
publication (the “Submitted Version”):
a. The right to self-archive the Submitted Version on the Contributor’s personal
website, place in a not for profit subject-based preprint server or repository or ina Scholarly Collaboration Network (SCN) which has signed up to the STM article
sharing principles [http://www.stm-assoc.org/stm-consultations/scn-consultation-2015/](“Compliant SCNs”), or in the Contributor’s company/ institutional repository
or archive. This right extends to both intranets and the Internet. The Contributor
may replace the Submitted Version with the Accepted Version, after any
relevant embargo period as set out in paragraph C.2(a) below has elapsed. TheContributor may wish to add a note about acceptance by the Journal and upon
publication it is recommended that Contributors add a Digital Object Identifier(DOI) link back to the Final Published Version.
b. The right to transmit, print and share copies of the Submitted Version withcolleagues, including via Compliant SCNs, provided that there is no systematic
distribution of the Submitted Version, e.g. posting on a listserve, network(including SCNs which have not signed up to the STM sharing principles) or
automated delivery.

2. Accepted Version. The Owner licenses back the following rights to theContributor in the version of the Contribution that has been peer-reviewed andaccepted for publication, but not final (the “Accepted Version”):
a. The right to self-archive the Accepted Version on the Contributor’s
personal website, in the Contributor’s company/institutional repository orarchive, in Compliant SCNs, and in not for profit subject-based repositories
such as PubMed Central, subject to an embargo period of 12 months forscientific, technical and medical (STM) journals and 24 months for social
science and humanities (SSH) journals following publication of the Final
Published Version. There are separate arrangements with certain funding
agencies governing reuse of the Accepted Version as set forth at the following
website: http://www.wiley.com/go/funderstatement. The Contributor may
not update the Accepted Version or replace it with the Final Published
Version. The Accepted Version posted must contain a legend as follows: Thisis the accepted version of the following article: FULL CITE, which has been
published in final form at [Link to final article]. This article may be used for
non-commercial purposes in accordance with the Wiley Self-Archiving Policy[http://olabout.wiley.com/WileyCDA/Section/id-820227.html].
b. The right to transmit, print and share copies of the Accepted
3. Final Published Version. The Owner hereby licenses back to the Contributor
the following rights with respect to the final published version of theContribution (the “Final Published Version”):
a. Copies for colleagues. The personal right of the Contributor only to sendor transmit individual copies of the Final Published Version in any format tocolleagues upon their specific request, and to share copies in private sharing
groups in Compliant SCNs, provided no fee is charged, and further-provided
that there is no systematic external or public distribution of the Final Published
Version, e.g. posting on a listserve, network or automated delivery.
b. Re-use in other publications. The right to re-use the final Contribution orparts thereof for any publication authored or edited by the Contributor or its
co-Contributors (excluding journal articles) where such re-used material
constitutes less than half of the total material in such publication. In suchcase, any modifications should be accurately noted.
c. Teaching duties. The right to include the Contribution in teaching ortraining duties at the Contributor’s or its co-Contributors’ institution/place of
employment including in course packs, e-reserves, presentation at
professional conferences, in-house training, or distance learning. The
Contribution may not be used in seminars outside of normal teachingobligations (e.g. commercial seminars). Electronic posting of the final
published version in connection with teaching/training at the Contributor’s or
its co-Contributors’ company/institution’s permitted subject to theimplementation of reasonable access control mechanisms, such as user nameand password. Posting the final published version on the open Internet is notpermitted.
d. Oral presentations. The right to make oral presentations based on theContribution.
4. Article Abstracts, Figures, Tables, Data Sets, Artwork and Selected
Text (up to 250 words).
a. Contributors may re-use unmodified abstracts for any non-commercialpurpose. For on-line uses of the abstracts, the Owner encourages but does
not require linking back to the final published versions.
b. Contributors may re-use figures, tables, data sets, artwork, and selected
text up to 250 words from their Contributions, provided the following
conditions are met:(i) Full and accurate credit must be given to the Contribution.
(ii) Modifications to the figures, tables and data must be noted.
Otherwise, no changes may be made.
(iii) The re-use may not be made for direct commercial purposes, or for
financial consideration to the Contributor.
(iv) Nothing herein shall permit dual publication in violation of journal
ethical practices.
5. Other Uses by the Contributor. In addition to the rights specified asretained in paragraphs B and C above, the Contributor retains the right to makecopies of and distribute the final published Contribution internally in print
format or electronically on the Contributor’s internal network. Copies so used
may not be resold or distributed externally. However the Contributor may
include information and text from the Contribution as part of an information
package included with software or other products offered for sale or license orincluded in patent applications. Posting of the final published Contribution bythe Contributor on a public access website may only be done with written permission from the Owner of the Journal.
D. SIGNATURES, COMMUNICATION OF THE AGREEMENT TO THE JOURNAL
For company/institution-owned work, signatures cannot be collected
electronically and so instead please print off this Agreement, ask the appropriate
person in your company/ institution to sign the Agreement in the space provided
below, and email a scanned copy of the signed Agreement to the Journal
Production Editor. For Production Editor contact details please visit the Journal’s
online author guidelines.

Authorized Signature of the Bank for International Settlements:

E. GOVERNMENT CONTRACTS
In the case of a Contribution prepared under U.S. Government contract or grant, theU.S. Government may reproduce, without charge, all or portions of the Contribution
and may authorize others to do so, for official U.S. Government purposes only, if theU.S. Government contract or grant so requires. (U.S. Government, U.K.
Government, and other government employees: see notes at end.)
F. COPYRIGHT NOTICE
Contributor agrees that any and all copies of the final published version of theContribution or any part thereof distributed or posted by them in print or electronic
format as permitted herein will include the notice of copyright in the name of theContributor as stipulated in the Journal and a full citation to the Journal.
G. AUTHOR(S)’ REPRESENTATIONSThe Author represents that the Contribution is the Author’s original work, allindividuals identified as Authors actually contributed to the Contribution, and all
individuals who contributed are included. If the Contribution was preparedjointly, the Author has informed the co-Authors of the terms of this Agreement
and has obtained their written permission to execute this Agreement on theirbehalf. The Contribution is submitted only to this Journal and has not been
published in a journal before. (If excerpts from copyrighted works owned bythird parties are included, the Author will obtain written permission from thecopyright owners for all uses as set forth in the standard permissions form or in
the Journal’s Instructions for Contributors, and show credit to the sources in theContribution.) The Author also warrants that the Contribution contains nolibelous or unlawful statements, does not infringe upon the rights (includingwithout limitation the copyright, patent or trademark rights) or the privacy ofothers, or contain material or instructions that might cause harm or injury.
For purposes of clarity, the parties agree that no representations or warranties
are given by the Contributor under this Agreement.
H. INFRINGEMENT OF COPYRIGHT
If the copyright of the Contribution is infringed, the Contributor agrees that theOwner of the Journal may (without any obligation) take such steps as it considers
necessary to deal with the matter. The Contributor will co-operate fully with theOwner of the Journal in any infringement proceedings and agrees to execute any
documents and do any acts reasonably required by the Owner of the Journal forsuch purposes. Nothing herein shall constitute or be considered to be a limitation
upon a waiver of the privileges and immunities of the Bank for International
Settlements, which privileges and immunities are specifically reserved.

Date:   U.S. Government work

Note to U.S. Government Employees
A contribution prepared by a U.S. federal government employee as part of the employee's official duties, or which is an official U.S.
Government publication, is called a "U.S. Government work", and is in the public domain in the United States. In such case, Paragraph A.1
will not apply but the Contributor must type his/her name (in the Contributor's signature line) above. Contributor acknowledges that theContribution will be published in the United States and other countries. If the Contribution was not prepared as part of the employee's duties
or is not an official U.S. Government publication, it is not a U.S. Government work.

    U.K. Government work   (Crown Copyright)

Note to U.K. Government Employees
The rights in a contribution prepared by an employee of a UK government department, agency or other Crown body as part of his/her official
duties, or which is an official government publication, belong to the Crown. Contributors must ensure they comply with departmental
regulations and submit the appropriate authorization to publish.

   Other Government work

Note to Non-U.S., Non-U.K. Government Employees
If your status as a government employee legally prevents you from signing this Agreement, please contact the Journal Production Editor.

Note to Contributors on Deposit of Accepted Version
Funder arrangements

Certain funders, including the NIH, members of the Research Councils UK (RCUK) and Wellcome Trust require deposit of
the Accepted Version in a repository after an embargo period. Details of funding arrangements are set out at the following
website: http://www.wiley.com/go/funderstatement. Please contact the Journal Production Editor if you have additional
funding requirements.

Institutions

Wiley has arrangements with certain academic and international institutions to permit the deposit of the Accepted Version
in the institutional repository after an embargo period. Details of such arrangements are set out at the following website:
http://www.wiley.com/go/funderstatement.