The Bank for International Settlements (BPI) is an international financial organization that encourages international cooperation between the different central banks; assisting in the promotion of monetary and financial stability and acting as agent or trustee in international financial operations.
The Bank for International Settlements was founded on May 17, 1930, being one of the oldest financial institutions in the world. It is owned by several central banks and its current headquarters are in Switzerland, Basel. In addition to offices in Hong Kong SAR and Mexico City.
We could describe it simply as the bank of the central banks. Its main decision-making bodies are: The General Assembly of member central banks, the Board of Directors and the Director General, assisted by the Executive Committee.
Main functions and departments
The Bank for International Settlements is organized into three departments, the main activities being: the analysis of banking policies and operations and general internal support.
The Monetary and Economic Department: is responsible for conducting studies and analysis on the policy of central banks. He supports the various Basel-based committees and is responsible for organizing key meetings with senior central bank officials. This department is responsible for collecting, analyzing and publishing statistical information on the international financial system.
The Banking Department: is responsible for offering a series of financial services to support central banks in managing their foreign exchange and gold reserves, investing their own resources.
The General Secretariat: Responsible for organizational issues such as corporate services, human resources, facilities management, finance, information and communication technologies, etc.
Members of the Bank for International Payments
The BIS is made up of 60 central banks from countries that represent approximately 95% of the world’s GDP, these countries are: Saudi Arabia, Algeria, Argentina, Australia, Austria, Belgium, Bosnia and Herzegovina, Brazil, Bulgaria, Canada, Chile, China , Korea, Colombia, Croatia, Denmark, United Arab Emirates, Slovenia, Slovakia, Spain, United States of America, Estonia, Philippines, Finland, France, Greece, Hong Kong SAR, Hungary, India, Indonesia, Ireland, Iceland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Mexico, Norway, New Zealand, Netherlands, Peru, Poland, Portugal, United Kingdom, the Czech Republic, Republic of Macedonia, Romania, Russia, Serbia, Singapore, South Africa, Sweden , Switzerland, Thailand and Turkey, including also the European Central Bank.