Bank for International Settlements (BIS)
The Bank for International Settlements (BIS) is the oldest international financial institution. It was originally established as a joint stock company in 1930 to administer the financial management of the Young Plan, established in relation to German war reconstruction obligations. The MNB has been a shareholder of the organisation ever since. The BIS’ capital is held by central banks only. Fifty-six institutions currently have rights of voting and representation at General Meetings. The BIS soon became an important forum of co-operation among central banks, and this role has only become stronger since its foundation.
Through regular meetings of governors and experts of the central banks, the organisation became an important forum for co-operation and exchanging information between central banks. Within the framework of international co-operation, the BIS conducts important research activities, collects important statistical data in the area of international finance, and gives its recommendations to the international financial community for further strengthening the international financial system. The BIS provides banking services to central banks, such as foreign reserve management and transactions involving gold. It also provides banking and fund management services for international financial institutions. The BIS Executive Board meets bi-monthly, and central bank governors of the G-10 countries and their committees meet at that time as well. The Governor’s Meeting also takes place on these occasions, where governors of all BIS member countries participate.
The Governor of the MNB attends the bi-monthly Governor’s Meetings, where the most current issues of the international financial system are discussed. Experts of the MNB regularly participate in seminars and experts' meetings organised by the BIS.
The BIS is collects wide range of information first of all for the central banks, but it also publishes them on its website, e.g. financial statistical data, speeches of central banks, working papers. The Central Bank Research Hub, facilitating access to research publications from the community of central banks and international financial institutions.
The BIS together with Basel Committee, which deals with the supervision of banks, established the Financial Stability Institute, which helps the work of the supervisory authorities and contributes to the stability of financial systems.
Further information:
BIS: www.bis.org