Tag: Bank for International Settlements

Business Organization

External Links: Wikipedia | Official website

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2003-03-10 The BIS (Bank for International Settlements) abandoned the Swiss gold franc as the bank's unit of account since 1930, and replaced it with the SDR.

SDR stands for Special Drawing Rights and is a unit of currency originally created by the IMF
2002-07-09 Andrew Crockett, general manager at the Bank for International Settlements (BIS), has said he will leave his position in March next year.
2001-01-08 In an Extraordinary General Meeting of the BIS (Bank for International Settlements) approved a proposal that restricted ownership of BIS shares to central banks. Some 13.7% of all shares were in private hands at that time, and the repurchase was accomplished with a cash outlay of $724,956,050. The price of $10,000 per share was over twice the book value of $4,850.
1998 The Bank for International Settlements came to the aid of Brazil during its debt crisis.
1997 Four additional central banks were invited to buy into the Bank for International Settlements (BIS): Bosnia and Herzegovina, Croatia, Macedonia and Slovenia.
1994 The Federal Reserve System was welcomed to occupy the two seats on the Board of Directors (of the Bank for International Settlements) to which the central bank of the United States had been entitled since 1930. Alan Greenspan became an ex-officio member of the Board and appointed William J. McDonough, President of the New York Federal Reserve, to serve as a member of the BIS Board for a period of three years.
1994 Andrew Crockett left the Bank of England to run the Bank for International Settlements (BIS).
1982 The Bank for International Settlements came to the aid of Mexico during its debt crises.
1979 / 1994 The Bank for International Settlements (BIS) was the agent for the European Monetary System, which is the administration that paved the way for a single European currency.
1972 / 1989 Andrew Crockett (Bank of England) went on secondment to the International Monetary Fund.

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