In 1947 the bank was appointed agent for the execution of the first intra-European compensation settlement initiated underneath the Marshall Plan, and in 1950 it grew to become the agent for the Organisation for European Economic Co-operation to serve the European Payments Union until its liquidation at the tip of 1958. In 1973 the financial institution turned the agent for the European Monetary Cooperation Fund, which had been established by the member international locations of the European Economic Community (now the European Union). It has since come to promote international monetary and financial stability and to serve as a centre for financial and financial research and consultation, a technical company for the execution of certain particular agreements, and a banker for the world’s central banks. Bank for International Settlements (BIS), international bank established at Basel, Switzerland, in 1930, because the agency to handle the cost of reparations by Germany after World War I and as an institution for cooperation among the many central banks of the varied nations (see Young Plan). The Japanese curiosity was repurchased by other central banks.
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