The B.I.S. as a private institution was owned by the seven chief central banks and was operated by the heads of these, who together formed its governing board. They made agreements on all the major financial problems of the world, as well as on many of the economic and political problems, especially in reference to loans, payments, and the economic future of the chief areas of the globe.

— In our words · Source: Tragedy and Hope (Carroll Quigley)