What is the Bank for International Settlements (BIS)?

The BIS is an international financial organization owned by 63 central banks, dedicated to fostering international monetary and financial cooperation and serving as a bank for central banks.

What are the primary functions of the BIS?

Its main functions include fostering cooperation among central banks, conducting research on financial stability, and acting as a bank for central banks by holding their deposits and facilitating transactions.

What are the Basel Accords and their connection to the BIS?

The Basel Accords are a series of international banking regulations developed by the Basel Committee on Banking Supervision (BCBS), which is hosted and supported by the BIS, aiming to strengthen global banking regulation.

Why is the BIS important for global financial stability?

The BIS is crucial for global financial stability by providing a platform for central bankers, facilitating information exchange, and promoting international standards that help prevent financial crises and ensure a stable global financial system.