Historical dictionary of Weimar Republik

BANK FOR INTERNATIONAL SETTLEMENTS

Bank for International Settlements: translation

(BIS)
the first inter-national financial agency, conceived in 1928 as a control mechanism for repa-ration* payments. A body without political character, BIS was intended to replace the Reparation Commission and "perform the whole work of external administration such as the receipt and distribution of payments and the com-mercialization of those parts of the annuities which are susceptible of being commercialized." Headquartered in Basel, BIS was also the agency of appeal if Germany believed that reparations were endangering the country's currency or economy; it could recommend up to a two-year moratorium on unprotected reparation annuities. Directed by Gates W. McGarrah, former chairman of New York's Federal Reserve Bank, BIS established a governing board comprised of the chairmen of the national banks of each participating country, including Ger-many's Reichsbank President.
BIS's ability to function as intended was subverted by the depression.* Amidst Germany's credit crisis, BIS's Special Advisory Committee drafted a report in August 1931 (the Layton-Wiggin Report) outlining the cycle of war debts, reparations, and indebtedness that had provoked the crisis. The report urged cessation of credit withdrawals, arrangement of new long-term loans, and such revision of international policies as were needed to reestablish confidence in Germany. Meeting again at year's end, the committee advised postponement of Germany's Young Plan annuity. The Lausanne Conference* was arranged to formalize this decision, and BIS played no further role with reparations.
REFERENCES:Clarke,Central Bank Cooperation; Kent,Spoils of War; Schloss,Bank for International Settlements; Wheeler-Bennett,Wreck of Reparations; Wilson,American Business.

  1. bank for international settlements—Bank for International Settlements translation BIS An international bank headquartered in Basel Switzerland which serves as a forum for monetary cooperation among sever...Financial and business terms
  2. bank for international settlements—Банк международных расчетов...Англо-русский дипломатический словарь
  3. bank for international settlements—Банк международных расчтов в Базеле...Англо-русский словарь по экономике
  4. bank for international settlements—Банк международных расчетов БМР...Англо-русский словарь политической терминологии
  5. bank for international settlements—сокр.u BIS Банк международных расчетов БМР международная финансовая организация созданная в г. в Базеле Швейцария и действующая на акционерных началах. Акционерами являю...Англо-русский словарь терминов по депозитарному хранению и клирингу
  6. bank for international settlements—Банк международных расчетов БМР...Англо-русский словарь финансовых терминов
  7. bank for international settlements—Банк для международных расчетов...Англо-русский словарь экономических терминов
  8. bank for international settlements—BISБанк международных расчетов БМР...Англо-русский терминологический словарь МИД России
  9. bank for international settlements—орг. сокр. BIS межд. эк. банк. Банк международных расчетов БМР международная валютная организация которая служит форумом для обсуждений вопросов денежной политики выступа...Англо-русский экономический словарь
  10. bank for international settlements—скор. BIS Банк мжнародних розрахункв БМР органзу спвробтництво мж центральними банками а також сприя стандартизац банквських правил випускаючи рекомендац щодо норм власно...Англо-украинский бизнес словарь