Bis Headquarters Agreement

The BRI was originally intended to facilitate reparations imposed on Germany by the Treaty of Versailles after World War I and serve as a trustee for the German government`s international loan (Young Loan), launched on the stock exchange in 1930. [6] The need to create one`s own institution for this purpose was proposed by the Youth Committee in 1929 and was agreed at a conference in The Hague in August of the same year. The Bank Charter was drawn up at the International Conference of Bankers held in Baden-Baden in November and was adopted at a second Hague Conference on 20 January 1930. The Charter provides that shares in the bank could be held by individuals and non-governmental organizations. However, the right to vote and representation at the General Meeting of the Bank should be exercised exclusively by the central banks of the countries where shares had been issued. In agreement with Switzerland, the BIS had its headquarters and headquarters there. It also enjoyed certain immunities in the Contracting States (Brussels Protocol in 1936). The role that the BRI plays today goes beyond its historical role. The original objective of the BIS was to „promote cooperation between central banks and provide additional facilities for international financial operations; and to act as an agent or agent with respect to international financial transactions entrusted to it under agreements with the parties concerned“, as stipulated in its 1930 statutes. [19] The Bretton Woods Conference of 1944 recommended the „liquidation of the Bank for International Settlements as soon as possible.“ This led to the BIS being the subject of disagreement between the US and UK delegations. The liquidation of the bank was supported by other European delegates as well as Americans (including Harry Dexter White and Treasury Secretary Henry Morgenthau Jr.). [11] The abolition was rejected by John Maynard Keynes, head of the British delegation.

The BIS was created in 1930 by an intergovernmental agreement between Belgium, France, Germany, italy, Japan, Switzerland, the United Kingdom and the United States. It opened in Basel, Switzerland, on May 17, 1930 .[4][5] The Bank for International Settlements opened its doors on May 17, 1930 in Basel, Switzerland, where it still has its headquarters today. Since its inception, the BRI has established two representations: in the Hong Kong Special Administrative Region (1998) and in Mexico City (2002). The BRI`s initial task of facilitating World War I reparations quickly became obsolete. Reparations were first suspended (Hoover moratorium, June 1931) and then completely abolished (Lausanne Convention, July 1932). Instead, the BIS focused on its second legal mission, promoting cooperation among its member central banks. It served as a meeting forum for central banks and made banking institutions available to them. For example, in the late 1930s, the BIS played an important role in helping continental European central banks ship some of their gold reserves to London. [7] After the Second World War, the BRI retained a strong European focus. He was an agent for the European Payments Union (UPR, 1950-58), an intra-European clearing agreement intended to help European countries restore monetary convertibility and multilateral free trade. [14] In the 1960s, the heyday of the Bretton Woods system at fixed exchange rates, the BIS once again became the place of transatlantic monetary cooperation.

It coordinated the central banks` gold pool[15]:416 and a series of monetary support operations (e.g.B. Sterling Group Arrangements of 1966 and 1968 [citation needed]. The Group of Ten (G10), which includes the major European economies of Canada, Japan and the United States, has become the largest group. .