Question
Consider the following statements about ‘Bank of
International Settlements (BIS)’: I. Bank of International Settlements (BIS) is basically acting as the Bank of the Central Banks. II. Basel Committee on Bank Supervision (BCBS) is a committee of BIS. III. Its head office is in Geneva, Switzerland. Which of the above statements is/are correct?Solution
Statement I is correct -: The goal of the Bank of International Settlements (BIS) is to serve as a bank for central banks and to assist in central banks' efforts to achieve monetary and financial stability through global collaboration. Statement II is correct -: The Basel Committee on Bank Supervision (BCBS) is a committee within the Bank for International Settlements. Statement III is not correct -: Its head office is in Basel, Switzerland.
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