In 1947 the bank was appointed agent for the execution of the primary intra-European compensation settlement initiated under the Marshall Plan, and in 1950 it turned the agent for the Organisation for European Economic Co-operation to serve the European Payments Union until its liquidation at the end of 1958. In 1973 the bank turned 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 worldwide financial and financial stability and to function a centre for financial and monetary analysis and consultation, a technical company for the execution of certain specific agreements, and a banker for the world’s central banks. Bank for International Settlements (BIS), worldwide bank established at Basel, Switzerland, in 1930, as the agency to handle the fee of reparations by Germany after World War I and as an establishment for cooperation among the central banks of the various countries (see Young Plan). The Japanese interest was repurchased by other central banks.

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