BANKING AFFAIRS

Detailed explanation-1: -As our name indicates, the BIS also acts as a bank. We oer nancial services exclusively to central banks, monetary authorities and international organisations, mainly to assist them in the management of their foreign exchange assets.

Detailed explanation-2: -As the bankers’ bank, the BIS serves the financial needs of member central banks. It provides gold and foreign exchange transactions for them and holds central bank reserves. The BIS is also a banker and fund manager for other international financial institutions.

Detailed explanation-3: -The Bank for International Settlements (BIS) is an international financial institution owned by central banks that “fosters international monetary and financial cooperation and serves as a bank for central banks".

Detailed explanation-4: -The International Bank for Reconstruction and Development (IBRD) is a global development cooperative owned by 189 member countries.