B37

The FATF definition of International organisations includes three criteria: [R1.1][R2.1] (1) the entity must be established by an international agreement which has the status of a treaty; (2) the entity's existence is recognised by law; (3) the entity is not treated as a resident institutional unit of the countries in which it is located. The Bank for International Settlements was founded as a result of the Hague Convention 1930. The Bank was granted immunities by the Protocol regarding the immunities of the Bank for International Settlements of 1936 meaning that the Bank is not a residential unit of the countries in which it is based. It is therefore considered to meet all three criteria. Accordingly, the Bank for International Settlements has been assessed as meeting the FATF definition of International organisation.