Young Plan creates the Bank for International Settlements
Citations (1)
- Lords of Finance whole source · open book
A new bank, the Bank of International Settlements (BIS), jointly owned by all the major central banks, would be set up to administer and where possible to “commercialize”—the modern term is securitize—these future payments, that is, to issue bonds against them.
chapter: 16. INTO THE VORTEX - 1928-29