The Knights Templar were a religious organisation, but also a quasi-banking institution in Europe; they took and protected deposits of gold, and issued 'cheques' allowing, for example, travellers to deposit gold in London and spend the money in Southern Europe. They were dissolved because they were beginning to rival the Papacy and nations in power due to their immense wealth.
Also, few know this, but many African slaves who were victims of the slave trade became slaves due to debt-slavery (though this didn't involve formal banks). I've seen estimates of up to 25% of slaves back then having been debt-slaves.
Yes! I had heard a bit about the Knights Templar, I guess I would have categorized them as religious first, financial/governance functions second. But also the Order of Malta had quite a lot of power, to the point I believe that it is still recognized by the UN!
I hadn't realized that about African slaves; debt for what?
the ones that only service other banks hence only people working in higher level banking are likely to have heard about. e.g. the bank for international settlements
I only found out about this bank because the former president of the mexican central bank -- Mr. Carstens, left the central banking gig to go to that bank.
From reading their Wikipedia quickly sounds like BIS has a similar function to say the IMF when it comes to financial system stability. I do agree these sorts of organizations exert huge amounts of influence, especially for smaller countries that are dependent on loans and outside financing, but I'm not sure I agree they are more powerful than a nation itself. A nation can (theoretically) decide to opt out from these systems and operate independently, or can play different parties funded by nations (because in the end they all are working for someone's agenda) off of one another as many countries did during the cold war between the U.S. and Soviet Union. But if a nation reneges on its debt, the BIS, IMF, etc. isn't going to invade your country--one of it's creditor nations might, but not them.
The BIS is just a counterparty to facilitate payments between nations. It doesn't exert influence in international affairs (except really via the BCBS [1] which sets the Basel capital accords defining how much capital banks have to hold and therefore does have a lot of influence behind the scenes on how banks operate anyway). When the US says it's going to give $100m in aid to some country or one country pays back a debt to another country, there needs to be someone to process the payment, and that someone is the BIS.
Source: friend used to work in the BIS and I've also been involved in banking off and on for a long time, including dealing with various international banking regulators.
Some fun BIS facts:
1) They process payments via regular SWIFT[2] messages. So the $100m in aid comes as a message just the same as if you transfer $5 from one bank account to another. It has an IBAN number with a regular bank account, so if you changed that to your own account details and the message was processed suddenly $100m would appear in your checking account instead of going fund an aid programme for some government in Africa or whatnot.
2) The number of payments they process is very low (>100 per day max and usually in the low tens of messages) so every payment message is checked by hand by several independent people as well as having automated checks. Partly to avoid the risk of funds getting sent to the wrong places etc.
3) My friend worked there in the 90s and said that even back then they had extremely strong security with multifactor biometrics on every entry to the premises. You got in via an entrance where you had to step into a cylander which would only unlock after it had taken multiple photos including an iris scan
