Bank for International Settlements
Also known as BIS, B.I.S.
international financial institution owned by central banks
AI overview
The Bank for International Settlements is an international financial institution owned by central banks from around the world. It matters because it serves as a place where these central banks can coordinate on financial and monetary issues that affect the global economy.
AI-generated from the Wikipedia summary — may contain errors.
Wikidata facts
- Official website
- www.bis.org
- Image
- Basel - Bank für internationalen Zahlungsausgleich3.jpg
Article
The Bank for International Settlements (BIS) is an international financial institution which is owned by members' central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1930 it is the oldest international financial institution. Its initial purpose was to oversee the settlement of World War I war reparations.
The BIS carries out its work through its meetings, programmes and through the Basel Process, hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations.