In 1947 the financial institution was appointed agent for the execution of the primary intra-European compensation agreement initiated under the Marshall Plan, and in 1950 it grew to become the agent for the Organisation for European Economic Co-operation to serve the European Payments Union until its liquidation at the top of 1958. In 1973 the bank became the agent for the European Monetary Cooperation Fund, which had been established by the member countries of the European Economic Community (now the European Union). It has since come to advertise international monetary and monetary stability and to serve as a centre for economic and monetary research and consultation, a technical agency for the execution of certain particular agreements, and a banker for the world’s central banks. Bank for International Settlements (BIS), international financial institution established at Basel, Switzerland, in 1930, because the agency to handle the fee of reparations by Germany after World War I and as an institution for cooperation among the central banks of the various nations (see Young Plan). The Japanese interest was repurchased by different central banks.

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