International financial institutions are the general names of financial institutions established in many countries. Divided into regional and global international financial institutions. Before World War II, in order to deal with German war reparations, Europe established the Bank for International Settlements, which was the first international financial institution and also a regional international financial institution. After the Second World War, an international monetary system centered on the US dollar was formed, and international financial institutions such as the International Monetary Fund and the World Bank were established. This is a global international financial institution. Similar international financial institutions have been established in other regions, such as the Inter-American Development Bank, the African Development Bank and the Asian Development Bank.
The emergence and development of international financial institutions;
In order to meet the needs of international economic development, various intergovernmental international financial institutions engaged in international financial business have emerged. Its origin can be traced back to the Bank for International Settlements established in Basel, Switzerland in May 1930.
After the Second World War, the Bretton Woods international monetary system was established, and a number of global international financial institutions were established as organizations to implement this international monetary system.
1957 By the 1970s, countries in Europe, Asia, Africa, Latin America and the Middle East had established regional international financial institutions through mutual assistance and cooperation, such as the Inter-American Development Bank, the Asian Development Bank and the African Development Bank.
: regional economic institutions:
I. bank for international settlements
The Bank for International Settlements (BIS) was established in May of the same year by the central banks of Britain, France, Italy, Germany, Belgium and Japan, as well as a consortium consisting of Morgan Bank, Citibank of new york and Citibank of Chicago, which represent the interests of the American banking industry, according to The Hague International Agreement signed in The Hague on October 20th.
The purpose of the Bank for International Settlements is to deal with the payment of German reparations after World War I and to settle the international settlement in Germany. 1944, according to the resolution of the Bretton Woods Conference, the bank should be closed, but the United States still retains it as a subsidiary of the International Monetary Fund and the World Bank. Since then, the purpose of the bank has changed to strengthen cooperation among central banks of various countries, provide additional convenience for international financial business, and act as an agent or trustee for international settlement.
The highest authority of the Bank for International Settlements is the shareholders' meeting, which is composed of representatives of central banks of various countries who subscribe for the shares of the Bank. The shareholders' meeting is held once a year. The board of directors leads the daily business of the bank. The Board of Directors consists of the Banking Department, the Monetary and Economic Department, the Secretariat and the Legal Department.
The capital of the Bank for International Settlements (BIS) mainly comes from the shares paid by member countries. In addition, it also borrows from the central banks of member countries to absorb a large number of customer deposits. Its main business activities are: handling international settlement business; Handle various banking services, such as deposits, loans and discounts; Buying and selling gold, foreign exchange and bonds; Dealing with gold mines; Discuss important issues related to international money and finance. As the activity center of the IMF Group of Ten (representing the interests of developed countries), the Bank for International Settlements often convenes meetings between the members of the Group and the governor of the Swiss National Bank, which are held in Basel on the first weekend of each month.
Second, the European Investment Bank.
The European Investment Bank (EIB) is a European financial institution established on March 25th, 1957 according to the relevant provisions of the European Treaty (Treaty of Rome). Its members are all members of the European Community, and its address is in Luxembourg. The purpose of the European Investment Bank is to promote the balanced and stable development of the European market by using the funds from the international capital market and the European market. The main business activities of the bank are to provide loans and guarantees on a non-profit basis to finance development projects in underdeveloped areas, transform and modernize existing enterprises and carry out new activities. Its main source of funds is borrowing from the European money market.
Three. Asian Development Bank (ADB)
The Asian Development Bank was established in March 1965 in accordance with the Agreement on the Establishment of the Asian Development Bank signed at the 2nd session of the United Nations Economic Commission for Asia and the Far East (United Nations Economic and Social Commission for Asia and the Pacific). 1966165438+10 was formally established in Tokyo, Japan, and opened in February of the same year with its address in Manila, the capital of the Philippines. The purpose of the Asian Development Bank is to raise funds for development plans in the Asia-Pacific region, provide technical assistance, help coordinate policies of member countries in economy, trade and development, and cooperate with the United Nations and its specialized agencies to promote economic development in the region. Its main sources of funds are the shares paid by member countries, the Asian Development Fund and the issuance of bonds in the international financial market.
Four. African Development Bank
Under the sponsorship of the United Nations Economic Commission for Africa, the African Development Bank was formally established in September 1964, and began to operate in July 1966, with its address in Abidjan, the capital of C? te d 'Ivoire. The purpose of the African Development Bank is to provide funds for the economic and social development of its member countries, coordinate their development plans and promote economic integration in Africa. Its main sources of funds are the share capital subscribed by member countries and loans from the international financial market.
Verb (abbreviation for verb) Inter-American Development Bank
The Inter-American Development Bank was formally established on February 30th, 1959, 1960, 1 1, and its bank address is located in Washington, DC. The purpose of the Inter-American Development Bank is to mobilize domestic and foreign funds, provide project loans and technical assistance for the economic and social development of Latin American countries, and promote the economic development of Latin America. Its sources of funds are mainly shares subscribed by member countries, loans from international financial markets and deposits from more developed member countries.