The BIS or the Bank for International Settlements is essentially the international financial institution that offers services to many nation’s central banks. Located in Basel, Switzerland, it is owned by 63 different country’s central banks and is essentially a central bank for central banks. The BIS has quite an interesting past. It was originally created in 1930 as a clearinghouse for Germany’s war reparations imposed by the Treaty of Versailles after the end of World War I. During World War II it claimed to take a neutral stand, however its actions showed that it supported the Nazi war effort by transferring gold from Czechoslovakia to Germany’s Reichsbank. However, today it’s purpose is much different as it regulates capital adequacy, encourages reserve transparency and plays a major role in banking supervision. I’m Stewart Brown, a licensed Mortgage Loan Originator in Palm Springs, California here to simply topics in Real Estate and Mortgage Lending. Please, like, share, follow and subscribe!
