An international financial institution headquartered in Basel, Switzerland, that serves as a bank for central banks and fosters international monetary and financial cooperation. Founded in 1930, the BIS provides banking services to central banks, conducts economic research, and hosts forums where central bankers discuss policy coordination and global financial stability. The institution also plays a key role in setting international banking standards through its support of committees such as the Basel Committee on Banking Supervision.
Example
“The BIS published a quarterly review warning that rising global debt levels posed systemic risks, prompting several central banks to reassess their policy outlooks.”