The following Financial Services practice note provides comprehensive and up to date legal information covering:
The Bank for International Settlements (BIS) assists central banks in relation to monetary and financial stability. Its head office is in Basel, Switzerland, with two representative offices in Hong Kong and Mexico City.
Established on 17 May 1930, BIS is the world's oldest international financial organisation and considers itself to be the principal centre for international central bank cooperation. It has its roots in settlement and administration of repatriation payments following the First World War, however, this role faded quickly. It has played a crucial role in periods of financial stability such as the oil and international debt crises. It is now well-known for its role in regulation of internationally active banks and laying down global measures for regulatory capital, known as the Basel Capital Accord. See Practice Notes: Basel Accord and Basel II—essentials for further information.
The work of BIS is set out in Article 3 of its Statutes:
to promote the co-operation of central banks
to provide additional facilities for international financial operations, and
to act as trustee or agent in regard to international financial settlement.
Over 5,000 senior officials from central banks and supervisory agencies participate in meetings organised by BIS each year. The most important meetings are the meetings of Governors and senior officials of member central banks, which are held every two months in Basel. The
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
Summary assessment is the procedure whereby costs are assessed by the judge who has heard the case or application (see Practice Note: Summary assessment). This Practice Note sets out how to complete a statement of costs using court Form N260 or in such form that closely follows Form N260. It
What is 'discontinuance'?Discontinuance is the means by which a claimant can bring all or part of the proceedings it has instigated to an end.A claimant has a right to discontinue all or part of a claim at any time.Where proceedings are brought to an end without an order or judgment from a court, eg
Brexit: The UK's departure from the EU on exit day, ie Friday 31 January 2020, has implications for practitioners considering service out of the jurisdiction. For guidance, see: Cross border considerations—checklist—Service—Brexit specific.This Practice Note explains when an acknowledgment of
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.