Bank for International Settlements, BIS
Sveriges Riksbank acquired shares in the BIS when it was established in 1930, albeit not as a founding institution. Currently the Riksbank holds 17,244 shares, corresponding to approximately 3.2 per cent of the total number of issued shares and 2.9 per cent of the voting rights. Riksbank governors have been elected members of the BIS Board of Directors with few interruptions since 1937.
At the bi-monthly meetings of governors at the BIS headquarter in Basle, where gatherings are arranged in various formats, the Riksbank governor participates inter alia in the meetings of the BIS Board of Directors, the Global Economy Meeting and the Economic Consultative Committee.
In addition, the Riksbank participates in around 25 committees and working groups within the BIS field of activities. Through its representation in the Global Economy Meeting, and a special group involving also heads of supervision, the Riksbank is involved in the process of providing guidance to this work and to participate in the preparation of detailed proposals.
Continued Riksbank representation
Many BIS activities provide opportunities to cooperate with leading figures in the global economic and financial community and to contribute to the creation of standards for the financial sector. The Riksbank therefore considers it to be a vital interest to retain the possibilities of continued representation.
Financial sector standards
The Riksbank welcomes increased financial integration between countries. A common regulatory framework which promotes a sound development of the financial sector and furthers financial integration contributes to financial stability. For the banking sector in the aftermath of the global financial crisis, reforms of the rules for capital adequacy and liquidity management are being prepared by the Basel Committee for Banking Supervision (BCBS).
Analysis of new trends in financial markets
In conjunction with the emergence of new financial instruments and new categories of financial institutions, it is vital to assess the consequences for the overall risk exposure and its distribution in the financial system. For instance, the Committee on the Global Financial System (CGFS) has analysed the role of asset prices and issues related to cross-border banking.
BIS financial management
As a shareholder in the BIS, the Riksbank has a vested interest in an efficient and profitable management of the financial resources entrusted to the BIS. The Riksbank governor chairs a Board committee for banking and risk management activities.