- Bank for International Settlements (BIS) was established on 17th May 1930 and it is the oldest international financial organization.
- BIS is an international organization which fosters international organization which fosters international monetary and financial cooperation and serves as a bank for Central Banks.
- The head office of Bank for International Settlements (BIS) is located in Basel, Switzerland and there are two representative offices in the Hong Kong Special Administrative Region of the People’s Republic of China and in Mexico City.
- As its customers are Central Banks and international organizations, the BIS do not accept deposits from, or provide financial services to, private individuals or corporate entities.
- Mission of the BIS: BIS mission is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
- The Bank for International Settlements (BIS) pursues its mission by:
- fostering discussion and facilitating collaboration among central banks;
- supporting dialogue with other authorities that are responsible for promoting financial stability; carrying out research and policy analysis on issues of relevance for monetary and financial stability;
- acting as a prime counter party for central banks in their financial transactions; and
- serving as an agent or trustee in connection with international financial operations.
- The BIS currently has 56 members Central Banks, all of which are entitled to be represented and vote in the General Meetings. voting power is proportionate to the number of BIS shares issued in the country of each member represented at the meeting.
About BIS (bis.org)