|
|||||
What is Bank for International Settlements?(ECONOMICS) Bank for central banks. It takes deposits from central banks and provides financial services, including underwriting bills of exchange. It is based in Basle, Switzerland and was founded in May 1930, for the purpose of facilitating reparations payments by Germany to the Allies. The Bank for International Settlements (BIS) was created by the Dawes/Young Plan for coordinating the transfer of billions of Reichsmarks in reparations from Germany to the Allied powers after WW1. Almost at one, the BIS switched to managing international transactions of gold or hard currency. It also facilitated financial transactions between the Nazi regime and neutral countries during the War. Bank for International Settlements - video |
|||||
www.Definder.net Powered by Urban Dictionary |