The Bank for International Settlements (BIS) was set up in 1930 with its head office in Basel, Switzerland and two representative offices in Hong Kong SAR and in Mexico City. The above organisation is owned by 60 central banks, representing several countries around the world that account for about 95% of world GDP. The aim of BIS is to serve central banks in their pursuit of monetary and financial stability. It actually acts as a bank for central banks to promote global monetary and financial stability through international cooperation. The bank promotes international monetary cooperation by facilitating exchange of views about international banking and monetary system among the central bankers and central bank experts. It also carries out research and policy analysis on issues of relevance for monetary and financial stability.
The BIS carries out a wide range of banking operations arising from the task of assisting the Central Banks in managing and investing their monetary reserves. Further, BIS acts as trustee or agent for a number of international financial operations and also acting as a prime counterparty for central banks in their financial transactions. BIS regularly publish monetary and financial stability related analyses and international banking and financial statistics that underpin policy-making, academic research and public debate.
However, it is to be remembered that the Bank for International (BIS) does not accept deposits or provide financial services to private individuals or corporate entities. Its business activities are only with various central banks and international organization.
