The functions of the international financial organizations (IMF, World Bank, BIS).

The Bank for International Settlements (BIS) is an international organisation which fosters international monetary and financial cooperation and serves as a bank for central banks.

The BIS fulfils this mandate by acting as:

• a forum to promote discussion and policy analysis among central banks and within the international financial community

• a centre for economic and monetary research

• a prime counterparty for central banks in their financial transactions

• agent or trustee in connection with international financial operations

The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City.

Established on 17 May 1930, the BIS is the world's oldest international financial organisation.

As its customers are central banks and international organisations, the BIS does not accept deposits from, or provide financial services to, private individuals or corporate entities. Currently more than 5,000 senior executives and officials from central banks and supervisory agencies participate in meetings organised by the BIS every year.

IMF describes itself as "an organization of 184 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty". The primary function of the IMF is to provide financial assistance to countries that experience serious financial difficulties. Member states with balance of payments problems may request loans and/or organizational management of their national economies. In return, the countries are usually required to launch certain reforms. Overall, IMF has $300 billion of loanable funds. This comes from member countries who deposit a certain amount on joining. IMF also produces reports on member countries economies and suggest areas of weakness / possible danger. The idea is to work on crisis prevention by highlighting areas of economic imbalance. Finally, IMF produce many reports and publications. They can also offer support for local economies.

The World Bank Group (WBG) was established in 1944 to rebuild post-World War II Europe under the International Bank for Reconstruction and Development (IBRD). Today, the World Bank functions as an international organization that fights poverty by offering developmental assistance to middle-income and low-income countries. By giving loans and offering advice and training inboth the private and public sectors, the World Bank aims to eliminate poverty by helping people help themselves. There are 184 member countries of the WBG. To become a member, however, a country must first join the IMF. The size of the World Bank's shareholders, like that of the IMF's shareholders, depends on the size of a country's economy. Overall, World Bank performs the following functions: (i) Granting reconstruction loans to war devastated countries. (ii) Granting developmental loans to underdeveloped countries. (iii) Providing loans to governments for agriculture, irrigation, power, transport, water supply, educations, health, etc (iv) Providing loans to private concerns for specified projects. (v) Promoting foreign investment by guaranteeing loans provided by other organisations. (vi)Providing technical, economic and monetary advice to member countries for specific projects (vii) Encouraging industrial development of underdeveloped countries by promoting economic reforms.

51.(И.Р.)The major functions of international banking: international trade financing, participation in the interbank foreign exchange and eurocurrency markets, international investment banking services, and sovereign lending.