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Consider the following statements.
  1. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation.
  2. Bank for International Settlements (BIS) serves as a bank for central banks.
  3. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).
Which of the above statements is/are correct?
  • a)
    1, 2 
  • b)
    1, 3 
  • c)
    2, 3 
  • d)
    1, 2, 3
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements. The Bank for International Settleme...
The correct answer is option D: 1, 2, 3.

Explanation:
1. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation.
- The BIS was established in 1930 and is headquartered in Basel, Switzerland.
- It acts as a bank for central banks and provides a forum for central banks to exchange information and collaborate on financial and monetary matters.
- It promotes monetary and financial stability and serves as a hub for central banks to address global economic challenges.

2. Bank for International Settlements (BIS) serves as a bank for central banks.
- The BIS provides various services to central banks, including acting as a counterparty for central bank transactions, facilitating international monetary cooperation, and providing a platform for central banks to collaborate on policy issues.
- Central banks hold accounts with the BIS and can use its services for foreign exchange transactions, gold transactions, and other financial operations.
- The BIS also provides research and analysis on financial and monetary topics to support central banks in their decision-making processes.

3. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).
- The BCBS is a committee of banking supervisory authorities that sets global standards for banking regulation and supervision.
- It is hosted by the BIS, and its headquarters are located in Basel, Switzerland.
- The BCBS develops and promotes international standards for the regulation and supervision of banks, with the aim of enhancing financial stability and protecting the integrity of the banking system.
- It plays a crucial role in ensuring that banks operate in a safe and sound manner and that they have sufficient capital and liquidity to withstand financial shocks.

In conclusion, all three statements are correct. The BIS is an international financial institution owned by central banks and serves as a bank for central banks. It also hosts the Secretariat of the Basel Committee on Banking Supervision, which sets global standards for banking regulation and supervision.
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Consider the following statements. The Bank for International Settleme...
  • The Bank for International Settlements (BIS) is an international financial institution owned by central banks that “fosters international monetary and financial cooperation and serves as a bank for central banks”.
  • The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. The committee expanded its membership in 2009 and then again in 2014. In 2019, the BCBS has 45 members from 28 Jurisdictions, consisting of Central Banks and authorities with responsibility of banking regulation. The Committee’s Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland.
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Consider the following statements. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation. Bank for International Settlements (BIS) serves as a bank for central banks. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation. Bank for International Settlements (BIS) serves as a bank for central banks. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation. Bank for International Settlements (BIS) serves as a bank for central banks. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements. The Bank for International Settlements (BIS) is an international financial institution owned by central banks that fosters international monetary and financial cooperation. Bank for International Settlements (BIS) serves as a bank for central banks. The Secretariat of Basel Committee on Banking Supervision (BCBS) is located at the Bank for International Settlements (BIS).Which of the above statements is/are correct?a)1, 2b)1, 3c)2, 3d)1, 2, 3Correct answer is option 'D'. Can you explain this answer?.
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