Definition of ‘Bank For International Settlements – BIS’
A HISTORY OF CENTRAL BANKING IN THE UNITED STATES
Nearly every country around the world, and certainly every developed industrial nation, has a central bank. Most serve one or more of the following functions: acting as a bank for bankers, issuing a common currency, clearing payments, regulating banks and acting as a “lender of last resort” for banks in financial trouble. The one thing they all do is serve as banker to their own governments.
by Edward Jay Epstein -1983 Harpers Magazine
reprinted from Monetary Reform Magazine – Canada
Research at BIS