Bank for International Settlements (the BIS) was founded in 1930 on the basis of the inter-governmental agreement between six states (Belgium, the UK, Germany, Italy, France, and Japan) and the convention of these states with Switzerland where the BIS is functioning.
The BIS performs the functions of fund and serves as a clearing house for settlements between the fund and central banks of the EU member countries. The BIS also acts as a trustee in the provision of international government loans and carries out research on the international banking. In exceptional cases, it provides loans to central banks which are not its members.
There are Standing Committees with the BIS whose goal is to support central banks by providing analytical data and policy recommendations:
- the Basel Committee on Banking Supervision
- Committee on the Global Financial System
- Committee on Payments and Market Infrastructures
- Markets Committee
- Central Bank Governance Forum
- Irving Fisher Committee on Central Bank Statistics.
The executives of the National Bank on a regular basis participate in the Annual General Meeting of the BIS.