Bank of International Settlements
The Bank of International Settlements is at least 1 of Levi's international organizations.
The Bank of International Settlements was setup in 1930 to handle German war reparations from World War I. This function was suspended by 1932, but the organization was kept active.
As originally setup it primarily dealt with clearing gold movements between central banks. This included movements of gold involving Nazi Germany in World War II.
In the 1990s it globalized, eventually opening offices in Hong Kong and Mexico City.
These days it acts as a counter party, asset manager and lender for central banks. Its fundamental unit of currency is Special Drawing Rights.
It is commonly called the Central Bank of Central banks and currently has 63 member central banks.
Bank of International Settlements Members
- Bosnia and Herzegovina
- The Czech Republic
- Hong Kong SAR
- South Korea
- Macedonia (FYR)
- The Netherlands
- New Zealand
- The Philippines
- Saudi Arabia
- South Africa
- The United Kingdom
- The United States
- Also: The European Central Bank