Bank for International Settlements, BIS

The activities of the BIS are also largely geared towards establishing global norms and standards for sound financial practices. These are standards that are widely recognised around the world. The BIS provides the secretariat for several international groupings in this area, such as the Basel Committee on Banking Supervision (BCBS), which is the global standard-setter in the banking field, the Committee on Payments and Financial Market Infrastructures, which develops standards in its field, and the Financial Stability Board (FSB), which is the G20’s cooperative body for financial stability issues.

The BIS is a limited liability company owned by around 60 central banks. The Riksbank has been a shareholder in the BIS since 1930 and has been represented on the board since then, apart from a few short periods.

Brief history

The BIS was established in 1930 through an international treaty in order to regulate German reparation payments after the First World War. The bank later played an operational role in the processing of international payments, thus becoming a link between the financially dominant countries of the world even after the Second World War, before currencies became convertible.

BIS Board

The Board of Directors is the highest decision-making body for the management of the bank. Six central banks, which were founding members of the BIS, have permanent seats on the board.

BIS meeting activities

Every two months, central bank governors from BIS members meet in various constellations, including the Global Economy Meeting, the Economic Consultative Meeting and the BIS Board of Directors. The composition of these groups varies. The Riksbank Governor's membership in all groups provides very valuable opportunities for discussion and interaction with other governors.

The BIS also organises a variety of other meetings with central bank representatives at different levels. The Riksbank participates in around 25 committees and working groups within the BIS field of activities. The key committees for the Riksbank's participation are the BCBS, the Committee on the Global Financial System (CGFS), the Committee on Payments and Financial Market Infrastructure (CPMI) and the Markets Committee (MC).

BIS Innovation Hub Nordic Centre

The BIS has decided, in cooperation with the Riksbank and the central banks of Denmark, Iceland and Norway, to establish a centre for innovation in Stockholm – BIS Innovation Hub Nordic Centre. The Nordic innovation centre will work to deepen the analysis of technological financial innovations relevant to central banks.