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What is Bank of International Settlements and how does it work?

The Bank for International Settlements (BIS) is an international financial institution that promotes international cooperation among central banks and other financial institutions. It was founded in 1930, and is headquartered in Basel, Switzerland.

The BIS operates as a forum for central banks and other financial institutions to discuss issues of common concern and to coordinate their activities. It also conducts research and provides analysis on a range of topics related to central banking and the global financial system.

The BIS provides a range of services to its member institutions, including support for the operation of the global payment system and the provision of clearing and settlement services for cross-border transactions. It also acts as a correspondent bank for central banks, and provides a range of financial services to support their operations.

The BIS is owned by central banks from around the world, and is governed by a board of directors that is made up of central bank governors and representatives from its member institutions. It is an important institution in the global financial system, and plays a key role in promoting international cooperation among central banks and other financial institutions.

This page was last updated on January 2, 2023.