Bank for International Settlements

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

Bank for International Settlements

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 Plan 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).

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References in periodicals archive ?
Central banks provide RTGS systems to commercial banks and other selected institutions such as government agencies and, in some countries, clearing houses for securities and derivatives exchanges (Bank for International Settlements, 1997a, pp.
BEIRUT: In its 2009 survey of the Top 100 Arab commercial banks, The Banker magazine included 11 Lebanese banks on the list, none of which ranked in the top 20 banks in the Middle East, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group.AaThe rankings are based on Tier One capital at year-end 2008 as defined by the Basel Bank for International Settlements. The Banker said the definition is stricter than total shareholders' equity and covers only the core of a bank's strength, namely the shareholders' equity available to cover actual or potential losses.Aa
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).
He also visited at the Bank for International Settlements in 1996.
Libya is expected to set up an escrow account with either the Bank of England or the Bank for International Settlements into which the USD2.67bn compensation will be paid.
The Bank for International Settlements will hold a meeting of central bank governors, most from Asia, in Singapore on Jan.
Core capital does not include banks' paper profits from securities holdings and real estate, which count as capital under the 8% rule set by the Bank for International Settlements for banks operating globally.
Governor Benjamin Diokno is believed to have reached such a decision after discussing the issue with international counterparts at the Bank for International Settlements (BIS).
The Code is developed through a collaborative process between the Bank for International Settlements' (BIS) Foreign Exchange Working Group1 and private sector market participants.
Of the deposits, $7.84 billion was held in foreign central banks and the Basel-based Bank for International Settlements, $25.14 billion in Japanese banks and $88.90 billion in foreign financial institutions.
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.S.