Bank for International Settlements Expands North American & European Hubs
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Bank for International Settlements Expands North American & European Hubs
PRESS RELEASE
The BIS Innovation Hub is an investment in the future of central banking and the financial system. These new centres will expand our reach significantly and help create a global force for fintech innovation.
- BIS Innovation Hub to extend global reach with four new centres over next two years in collaboration with central banks.
- New locations in Toronto, London, Frankfurt & Paris and Stockholm; strategic partnership in New York.
- Expansion will allow Innovation Hub to spur central bank work across multiple fintech pillars.
The Board of the Bank for International Settlements (BIS) today announced the expansion of the BIS Innovation Hub with the establishment of new Hub centres across Europe and in North America in cooperation with member central banks.
In the next two years, the BIS will open centres in collaboration with the Bank of Canada (Toronto), the Bank of England (London), the European Central Bank/Eurosystem (Frankfurt and Paris) and four Nordic central banks (Danmarks Nationalbank, the Central Bank of Iceland, the Central Bank of Norway and Sveriges Riksbank) in Stockholm. The BIS will also form a strategic partnership with the Federal Reserve System (New York).
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4 Comments
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Dear Catherine,
My understanding is that BIS controls all Western banks
They make the Basel Rules
Due to my limited knowledge, I don’t understand what they are doing with setting up nodes across the globe.
Can you elaborate further and bring your understanding of the implications of this?
Much appreciated.
Suk
Can’t do because I am not inside the room.I will talk in Money & Market on what I believe is happening here. No the BIS does not control. The privately owned central banks are members and their are rules such as a self governing association. What drives who own owns the banks and how that relates to who controls the BIS.
Looks interesting. Understanding the common law is so valuable.
Thank you Catherine. Look forward to your M&M report.