Bank for International Settlements(redirected from Bank of International Settlement)
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Bank for International Settlements (BIS)
An international bank headquartered in Basel, Switzerland, which serves as a forum for monetary cooperation among several European central banks, the Bank of Japan, and the US Federal Reserve System. Founded in 1930 to handle the German payment of World War I reparations, it now monitors and collects data on international banking activity and promulgates rules concerning international bank regulation.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Bank for International Settlements
An international organization composed of central banks that helps ensure the proper flow of money throughout the global economy. Based in Basel, Switzerland, the BIS seeks to increase transparency in monetary policy throughout the world, and to apply international standards where it is believed they are appropriate. The BIS regulates capital adequacy and encourages transparency in reserve requirement policies. Importantly, it does not provide financial aid to members. Critics allege that its standards are unenforceable. See also: International Monetary Fund.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Bank for International Settlements (BIS)an international bank, situated in Basle and established in 1930, that originally acted as a coordinating agency for the central banks of Germany, France, Italy, Belgium and the UK in settling BALANCE-OF-PAYMENTS imbalances and for other intercentral bank dealings. Nowadays its membership comprises all western European central banks together with those of the USA, Canada and Japan. Although the INTERNATIONAL MONETARY FUND is the main institution responsible for the conduct of international monetary affairs, the BIS is still influential in providing a forum for discussion and surveillance of international banking practices.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005