Bank for International Settlements

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Related to Bank for International Settlements: International Monetary Fund, World Bank

Bank for International Settlements

(BIS), international financial institution est. (1930) in Basel, Switzerland, by bankers and diplomats from Europe, the United States, and Japan. It was originally set up to facilitate Germany's World War I reparation payments (a purpose that was soon abandoned). After World War II, BIS directors were accused of having helped to sell assests obtained illegally by the Nazis from occupied countries, but efforts to scrap the bank failed. The BIS later facilitated Marshall PlanMarshall Plan
or European Recovery Program,
project instituted at the Paris Economic Conference (July, 1947) to foster economic recovery in certain European countries after World War II. The Marshall Plan took form when U.S. Secretary of State George C.
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 payments (1947 on), acted for the Organization for European Economic Cooperation (1950–58), and helped establish the European monetary union (1960s on). Today its purpose is to serve central banks in their search for financial and monetary stability, to foster international monetary and financial cooperation, and to act as a bank for its members, which consist of 60 central banks and monetary authorities (including the European Central Bank). The BIS is a limited-share company and an international organization, not accountable to any nation but answerable to international law. The BIS promotes discussion and collaboration among central banks, conducts research on matters relating to central banks, acts as a counterparty for central banks in their financial operations, and serves as an agent or trustee in matters related to international finance.


See A. LeBor, Tower of Basel (2013).

References in periodicals archive ?
This conclusion is particularly true today after the decade-long efforts by the Committee on Payments and Settlement Systems of the Bank for International Settlements, and by individual central banks, to upgrade the soundness of existing and proposed multilateral net settlement systems in the G-10 countries.
Half a century of the activities of the BIS are covered in a 729-page volume by Gianni Toniolo, a professor from Italy, and Piet Clement, the BIS archivist, on Central Bank Cooperation at the Bank for International Settlements, 1930-1973 (Cambridge University Press, 2005).
Global Banking News-November 8, 2016--Singapore central bank official named to top post at Bank for International Settlements
The International Journal of Central Banking (IJCB) will be a joint project of the Bank for International Settlements (BIS), the European Central Bank, and each of the Group of Ten (G-10) central banks, with participation expected from other central banks.
He is also the founding chairman of the Financial Stability Institute of the Bank for International Settlements and a former U.
The account is expected to be created with either the Bank of England or the Bank for International Settlements, Reuters reported.
Global Banking News-November 1, 2016--Two favourites emerge to head Bank for International Settlements
He has also been a visiting economist at the Bank for International Settlements.
Bank for International Settlements (BIS) has opined that Canada's banking system could encounter stress because of rising credit.