The Bank for International Settlements (BIS) is an international organization dedicated to international monetary and fiscal policy cooperation. It was established on May 17, 1930 and is the first international financial organization in the world. It is currently composed of central banks or financial regulatory authorities in 60 countries and regions. Its headquarters is located in Basel, Switzerland, and there are two other offices in Hong Kong and Mexico City.

The Bank for International Settlements was established in 1930 based on the Young Plan after the end of the First World War to deal with the German war reparations. The main initiators were Montagu Norman, president of the Bank of England, and Schacht, president of the German National Bank.

During World War II, because the president of the German National Bank was also a director of the Bank for International Settlements, the Bank for International Settlements became one of Nazi Germany's most important foreign trade partners, used to execute gold and foreign exchange transactions. It was also a German listening post, used to monitor intelligence on enemy financial transactions. The Bank for International Settlements operated on the interest received by the German National Bank, which later accounted for 82% of its revenue.

Subsequently, the role of dealing with war reparations gradually weakened, and it turned to promoting international fiscal and monetary policy cooperation.

On June 25, 2022, the People's Bank of China and the Bank for International Settlements signed an agreement to participate in the RMB liquidity arrangement. The other first participants are Bank Indonesia, Bank Negara Malaysia, HKMA, the Monetary Authority of Singapore and the Central Bank of Chile.

Organizational Structure

The main decision-making body of the Bank for International Settlements is the general meeting of shareholders composed of member central banks, which has several business units, affiliated institutions and organizers.