Bank for International Settlements (BIS)

The Bank for International Settlements (BIS) is the overseer for central banks worldwide. Founded in 1930, the headquarter of BIS is located in Basel, Switzerland. It is an international financial institution whose primary goal is to promote global financial stability.

Coordinating through global central banks, the BIS is also responsible for imposing several monetary policies. Often called the ‘central bank for central banks, BIS offers banking services to some of the most prominent institutes including the European Central Bank and the Federal Reserve.

The BIS helps in conducting gold and currency transactions as well as leading short-term collateralized loans to central banks. The sole purpose of BIS is to act as a regulatory body while encouraging cooperation among the central banks.