The Bank for International Settlements (BIS) is an international financial institution that provides central banking services to its member banks. It also acts as a bank for central banks, providing them with facilities for clearing and settlement of transactions, as well as acting as a lender of last resort in times of need. The BIS also plays a role in promoting global monetary and financial stability.
The BIS was established in 1930 in Basel, Switzerland, with the goal of facilitating international trade and finance. Its membership consists of central banks from around the world. The BIS provides central banks with a forum for cooperation and coordination on matters of common interest, such as monetary policy, banking regulation and supervision, and clearing and settlement systems. It also promotes global financial stability by acting as a clearinghouse for central bank transactions and by providing liquidity to the banking system in times of need.
The BIS is owned by its member central banks, and its resources come from fees charged for its services, as well as from profits on its investments. It is headquartered in Basel, Switzerland, and has offices in Hong Kong and Mexico City.