Q. Consider the following statements regarding “Bank of International Settlements (BIS)”:
1.It is owned by 63 central banks including RBI that account for 95% of the GDP.
2.Basel Committee on Banking Supervision of BIS provides the Basel norms.
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation: Bank of International Settlements (BIS):
- BIS was established in 1930.
- BIS is owned by 63 central banks including RBI that account for 95% of the GDP.
- BIS’s head office is in Basel, Switzerland and it has two representative offices in Hong Kong and Mexico City.
- The mission of BIS is to support central banks’ pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.
- Basel Committee on Banking Supervision of BIS provides the Basel norms.
Source: FORUMIAS