All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
UPSC Exam  >  UPSC Questions  >  Consider the following statements. The Bank f... Start Learning for Free
SaveJoin the Discussion on the App
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?
FREE This question is part of
Download PDF Attempt Test
Download PDF Attempt this Test
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.
Free Test
FREE
Start Free Test
Start Free Test
Community Answer
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.
< Previous Question Next Question >
Explore Courses for UPSC exam

Similar UPSC Doubts

Read the information given below carefully and answer.The group of Twenty (G20) was established in 1999 to bring together Finance Ministers and Central Bank Governors of systemically important industrialised and developing economies to discuss key issues relating to the global economy and finance stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international cooperation, and international financial institutions, the G-20 helps to support growth, financial stability and development across the globe.Since its inception, the G20 has held annual Finance Ministers and Central Bank Governor’s meetings and discussed measures to promote financial stability inthe world and achieve sustainable economic growth and development.In the wake of the global financial and economic crisis in 2008, the G20 was elevated to a Leader Summit. It was designated as a premier forum for international economic cooperation in 2009, effectively replacing the G8 as a forum for steering the global issues. The move was considered as a milestone in reforming global governance, making it more inclusive since this forum comprises both emerging as well as industrialised economies.Several landmark reforms of international financial institutions were initiated at the behest of the G20 which heightened the expectation for bringing about fundamental changes in the functioning of the global institutions and in the global governance structure. India as a member of the G20 has been actively engaged in global economic governance and in shaping the world order. The most concerted response to the global economic crisis came from the platform of the G20 countries. G20 Leaders Summits have set the agenda rolling for both short and medium-term actions to meet thecrisis.Q.In the year 2008 G-20 was elevated to a leader’s Summit. Which of the following best describes the reason for such a move?

Top Courses for UPSCView all

Top Courses for UPSC

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?
Question Description
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?.
Solutions 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? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of 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? defined & explained in the simplest way possible. Besides giving the explanation of 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?, a detailed solution 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? has been provided alongside types of 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? theory, EduRev gives you an ample number of questions to practice 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? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup