Bis Headquarters Agreement

The BIS was originally intended to facilitate reparations imposed on Germany under the Treaty of Versaille after the First World War and to serve as an agent for the German government`s international loan, contracted in Swieflum in 1930. [6] The need to establish an institution for this purpose was proposed by the Youth Committee in 1929 and agreed in August of the same year at a conference in The Hague. The Bank`s charter was drawn up at the International Bankers` Conference in Baden-Baden in November and adopted at a second conference in The Hague on 20 January 1930. Under the Charter, stakes in the bank could be held by individuals and non-governmental organizations. However, voting rights and representation rights at the Bank`s general meeting should be exercised exclusively by central banks in countries where shares have been issued. In agreement with Switzerland, the BIS had its portfolio and its head office. Some immunities have also been found in the contracting states (Brussels Protocol 1936). The BIS was created in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States and Switzerland. Opened in Basel, Switzerland, May 1, 1930. [4] [5] The role of the BIS today goes beyond its historical role. The BIS`s initial objective was to „promote central bank cooperation and provide additional facilities for international financial transactions; and act as an agent or agent with respect to international financial agreements entrusted to it under agreements with the parties concerned,“ as stipulated in the 1930 Statute. [19] The Bretton Woods Conference of 1944 recommended „the liquidation of the Bank for International Settlements as soon as possible.“ As a result, the BIS was the subject of disagreements between the US and British delegations. The bank`s liquidation 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 Bank for International Settlements opened its doors on 17 May 1930 in Basel, where it still has its headquarters today. Since its inception, the BIS has established two representations: in the Hong Kong Special Administrative Region (1998) and in Mexico City (2002).