Bank of International Settlements - Explained
What is the Bank of International Settlements?
Written by J. Mance Gordon
Updated at April 21st, 2024
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What is the Bank for International Settlements?
The Bank for International Settlements (BIS), also referred to as the "central bank for central banks", is an international financial institution that provides banking services to both local and international organizations such as the European Central Bank and Federal Reserve. It seeks to promote international monetary and financial stability.
What does the Bank for International Settlements Do?
The services provided by Bank for International Settlements include currency and gold transactions and provide short-term collateral loans to individual groups and other institutions.
The BIS also enhances coordination among various central banks around the world. The Bank for International Settlements is closely associated with the Basel Committee for Banking Supervision (BCBS).
The BCBS is concerned and responsible for the Basel Accords, which institute the requirements and banking regulations that are implemented widely by the central government.
The BIS deals with researching economic issues avail the reports for policy development.