Financial system/Addendum

Selected financial institutions

Central banks

The Federal Reserve System

The European Central Bank

The Bank of England

International institutions

The International Monetary Fund was set up in 1944, mainly to provide loans to member governments in support of policies to deal with balance of payments problems. In recent years it has also devoted its resources to the strengthening of the international financial system and relieving financial crises. It also advises member governments about their economic problems and, when necessary, it grants loans to help resolve them.

The World Bank provides low-interest loans, interest-free credit and grants to developing countries, finances selected private sector projects,. guarantees foreign investors against non-commercial risks and settles disputes between foreign investors and host countries.

The Bank for International Settlements serves as the central banks’ bank and provides a forum to promote discussion and policy analysis among central bank governors and senior executives. Its committees include the Basel Committee on Banking Supervision and the Committee on the Global Financial System.