Financial System

Indian Economic System

Title

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Indian Economy - Understanding the basics of Indian economic system

Which of the following statements about the Bank For International Settlements is true

1. An international bank headquartered in Manila, Phillipines.

2. It serves as a forum for monetary cooperation among several European central banks, the Bank of Japan, and the U.S. Federal Reserve System.

3. It was Founded in 1950 to handle the German payment of World War II reparations,

4. Basel Committee established by the central-bank Governors of the Group of Ten countries at the end of 1974,

Choose your answer from the codes given below:

1, 2 , 3 ,4

1, 2 and 3

1, 2 and 4

2, 3 and 4

Bank for International Settlements (BIS)

Bank for International Settlements (BIS) – is an intergovernmental organization of central banks which “fosters international monetary and financial cooperation and serves as a bank for central banks.”
It is not accountable to any national government.
The mission of the Bank for International Settlements (BIS) is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
The Basel Committee for Banking Supervision (BCBS), while technically separate from the BIS, is a closely associated international forum for financial regulation that is housed in the BIS’ offices in Basel, Switzerland
The BCBS is responsible for the Basel Accords, which recommend capital requirements and other banking regulations that are widely implemented by national governments.
The BIS also conducts research on economic issues and publishes reports