To amend the International Organizations Immunities Act to provide for the applicability of that Act to the Bank for International Settlements.
Summary
H.R. 3269 would grant the Bank for International Settlements (BIS) the same legal privileges and immunities currently provided to other major international organizations, such as the United Nations or the World Bank. By bringing the BIS under the International Organizations Immunities Act, the bill would protect the bank’s assets and operations from certain lawsuits and legal seizures within the United States. For the average citizen, this technical change is intended to stabilize international financial cooperation and ensure that the "bank for central banks" can operate in U.S. markets with the same legal certainty as other global financial institutions.
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