The Bank for International Settlements (BIS) is an international organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". It was established in 1930 and is based in Basel, Switzerland. It is owned and governed by its 60 member central banks which are located in countries from around the world. The BIS conducts and coordinates banking supervision, payment systems, monetary and financial analysis and operations. As the "bank for central banks", it is responsible for holding reserves for national banks and international transactions. It also facilitates trade in gold, and the BIS is a World Bank correspondent for economic and financial data.Its services include collecting data on the global flow of funds, performing international payments and money transfers, holding deposits for central banks, and providing short-term liquidity to member banks.The BIS is also the trustee of two important treaties establishing two supervisory bodies overseeing the world's two main global financial systems:
The International Monetary Fund (IMF) was established with the Bretton Woods Agreement in 1944.
The Bank for International Settlements was established with the Basel Agreement in 1946.
The BIS engages in monetary and financial research and analysis, including providing a forum for discussion and policy coordination among central banks. The BIS pursues its research and policy coordination activities in consultation with the G20, and promotes dialogue with other authorities that have an interest in global financial stability.
