What Is the Bank for International Settlements (BIS)?
The Bank for International Settlements (BIS) is an international financial institution that serves as a bank for central banks. It was established in 1930 to facilitate the reparation payments imposed on Germany after World War I and has since become the oldest international financial organization still in operation. The BIS provides banking services, conducts economic research, and acts as a forum for discussion among its member countries. Its headquarters are located in Basel, Switzerland.
The primary purpose of the BIS is to promote global monetary and financial stability by providing a platform where central banks can discuss policy issues related to their respective economies. Additionally, it also works with other organizations such as the IMF and World Bank to provide advice on macroeconomic policies and regulations affecting global markets. Furthermore, it helps coordinate foreign exchange operations between different countries’ central banks while also acting as an intermediary between them when settling transactions denominated in different currencies or securities issued by various governments around the world.