After the First World War, the matters related to German war compensation in the Versailles Agreement were initially carried out by a special compensation committee. According to the "Dovis Plan" at that time, Germany paid 65.438+000 billion gold marks in the first year from 65438 to 0924, and then increased year by year for 58 years. By 1928, the German indemnity increased to 2.5 billion gold marks. Germany claimed that it was unable to pay compensation due to the domestic economic crisis, and asked for relief. The United States agreed to Germany's request, and Young planned and formulated the "Youth Plan". In order to implement the "Youth Plan Decision", the Allies set up the Bank for International Settlements to replace the original compensation committee, distribute compensation to Germany and supervise German finance.

1930 65438+1On October 20th, some American banks headed by Morgan Bank (in addition to Citibank in new york and Citibank in Chicago) signed an international agreement with the central banks of Britain, France, Italy, Germany, Belgium, Japan and other countries in The Hague, the Netherlands, to establish the Bank for International Settlements. The governments of Britain, France, Belgium, Germany, Italy and Japan reached an agreement with the Swiss government, and Switzerland promised to issue the articles of association of CCB to the Bank for International Settlements. According to the articles of association, the Bank for International Settlements has the status of an international legal person and is tax-free. The Swiss government does not requisition, seize or confiscate bank property, but allows banks to import and export gold and foreign exchange, enjoying diplomatic privileges and immunities. After the Second World War, the Bank for International Settlements has successively become the exchange guarantee agent of the central banks of the member countries of the Economic Cooperation Organization (OECD), the trustee of the European Payment Union and the European Coal and Steel Company, and the agent of the European Monetary Cooperation Fund established by the member countries of European companies.