The Bank for International Settlements (BIS) is an international financial regulatory authority located in Basel, Switzerland. Its members include 60 central banks, which jointly own it.
It was established in the year 1930 in order to facilitate the implementation of the Hague Agreements which governed the settlement of reparation payments by Germany after the first world war.
The BIS acts as an intermediary between central banks. It also acts as counterparty and clearing house for financial transactions between central banks in much the same way that central banks act as counterparty to commercial banks.
Alongside its banking activities, the BIS works to promote the interests of its members.
In addition to its headquarters in Switzerland, the BIS also has offices in Hong Kong and Mexico.
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