Bank of International Settlement (BIS)

Important International institutions, agencies and fora, their structure, mandate.

 

 

 

 

RBI Governor Urjit Patel has been appointed to the Financial Stability Institute Advisory Board or the Bank of International Settlement (BIS), a global financial organisation owned by major central banks from across the world.

 

About the Financial Stability Institute:

The FSI was jointly created in 1998 by the BIS and the Basel Committee on Banking Supervision. Among other mandates, the FSI seeks to promote cross- sectoral and cross-border supervisory contacts and cooperation.

Work:

The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems.

FSI advisory board:

The FSI Advisory Board was originally created in 1998. The Advisory Board will provide strategic advice to help the FSI continue to meet its mandate in a way that is responsive to the changing needs of its key stakeholders around the world. To achieve this objective, the Advisory Board will comprise a small but diverse group of central bank Governors, heads of financial sector supervision and chairs of standard-setting bodies and regional supervisory groups.

 

About BIS:

The Bank for International Settlements (BIS) is the world’s oldest international financial organization. It was established in May 1930.

Location:

It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

Members:

It has 60 member central banks, representing countries from around the world that together make up about 95% of world GDP.

The mission of the BIS is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.

 

Sources: ET.

 

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