Bank for International Settlements

(redirected from Bank for International Settlement)
Also found in: Legal, Financial.

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.
..... Click the link for more information.
 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.

Bibliography

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

References in periodicals archive ?
Ahmad Aweidah, CEO of the Palestine Exchange said: "This upgrade corresponds to the PEX performance within best international practices and the recommendations of the International Organization of Securities Commissions (IOSCO) and the Bank for International Settlement (BIS).
It will also explore central bank-led cryptocurrency, a hot discussion topic at the Bank for International Settlements (BIS) and central banks around the world, on top of creating a new team that will specialize in virtual currency later this month.
The Bank for International Settlements (BIS) has opined that central banks around the world need to act against cryptocurrencies so that they do not undermine public trust in central banks.
I he data arc collected by the Banque de France and contribute to the international survey of foreign exchange and over-the-counter lOUT derivatives market activity carried out every three years and coordinated by the Bank for International Settlements.
9 on the list due to a "significant expansion" in offshore trading, the Bank for International Settlements said in a report Thursday.
Summary: Sovereign debt crises are expected to widen to more countries in coming years, and public debts are increasingly likely to be viewed as risky assets, the Bank for International Settlements said.
5% set by the Bank for International Settlements in December 2010.
Taoufik Baccar took part from June 27 to 28, 2010 in the works of the 80th General Assembly of the Bank for International Settlements (BIS) held in Basel, Switzerland.
It may deter the build-up in the private sector of imprudent foreign exchange exposures, the Bank for International Settlements said in its annual report.
Summary: Figures released by the Bank for International Settlements (BIS) show that Lebanon's external debt totaled $25.
Global cross-border lending by banks shrank almost $5 trillion in the nine months to last December, the sharpest fall ever recorded, a report from the Bank for International Settlements showed recently.