The Bank for International Settlements (BIS) is an international organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." As an international institution, it is not accountable to any single national government.
The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.
Read more about Bank For International Settlements: History, Organization of Central Banks, Tier 1 Versus Total Capital, Goal: A Financial Safety Net, Role in Banking Supervision, Accounting and Use of SDRs, Members, General Managers, Board of Directors
Famous quotes containing the words bank for, bank and/or settlements:
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)
“A bank is a confidence trick. If you put up the right signs, the wizards of finance themselves will come in and ask you to take their money.”
—Christina Stead (1902–1983)
“That those tribes [the Sac and Fox Indians] cannot exist surrounded by our settlements and in continual contact with our citizens is certain. They have neither the intelligence, the industry, the moral habits, nor the desire of improvement which are essential to any favorable change in their condition.”
—Andrew Jackson (1767–1845)