Founded in 1930 as a joint-stock company in Basel, the Bank of Central Banks is responsible for consolidating intergovernmental monetary relations in almost all areas, especially in the area of prudential supervision. The Bank is subject to international law and has extraterritorial status on Swiss territory. The BIS was also responsible for the technical management of the European Payments Union, with the help of which, as well as the support of the United States, the convertibility of most Western European currencies was achieved as early as 1958, after the Second World War. – In more recent times, the BIS has become best known for the Committee on Banking Supervision, which established a comprehensive set of rules governing banks’ activities in almost all business areas. – See Basel-II, Basel-III. – See ECB Monthly Bulletin, January 2001, p. 82 for further information, BaFin Annual Report 2012, p. 41 (the BIS in the web of international institutions and committees), and the respective BaFin Annual Report, chapter “International Affairs.”
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/