Bank for International Settlements
From ACT Wiki
(BIS).
An international organisation fostering international monetary and financial cooperation, the Bank serves as a bank for central banks and also hosts a number of international organisations.
Customers are exclusively central banks and international organisations.
It was established by agreement between the parties (plus Switzerland) to arrangements after World War I for payment of reparations by Germany to the principal allied victors. Its mandate and membership was extended and it is now a principal hub of cooperation between central banks and non-central-bank bank supervisors generally.
It has 60 central banks as its members.
The BIS hosts a number of other bodies including the:
- Basel Committee on Banking Supervision;
- Financial Stability Board;
- International Association of Insurance Supervisors (IAIS); and
- International Association of Deposit Insurers.
