Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

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What does BIS stand for in the context of banking?

Bank of International Settlements
Bank of Investments and Securities
Bank Identifier Services
Board of International Supervisors

The correct answer is: Bank of International Settlements

In the context of banking, BIS stands for the Bank for International Settlements. This institution plays a crucial role in fostering international monetary and financial cooperation. It acts as a bank for central banks, providing banking services to them and facilitating their cooperation in matters of monetary policy and financial stability. It also serves as a forum for central banks to research and discuss issues related to monetary policy, financial stability, and regulations. The Bank for International Settlements is essential in the global financial system, as it helps to improve the efficiency and stability of international financial transactions. It also conducts research on economic and financial issues and provides a platform for discussions and standard-setting among central banks. Other options, such as Bank of Investments and Securities, Bank Identifier Services, and Board of International Supervisors, do not have the same significance or recognized role in the banking industry as the Bank for International Settlements.