What is the name of the international financial institution that serves as a bank for central banks, headquartered in Basel, Switzerland?

The Bank for International Settlements is the international financial institution headquartered in Basel that serves as a bank for central banks.

Usually called the BIS, it provides a forum where central banks and other financial authorities cooperate on monetary and financial stability. It offers banking services to central banks, conducts economic and financial research, and supports discussion of international standards and regulatory policy. Unlike a retail or commercial bank, it generally does not serve ordinary consumers or businesses.

The BIS was created in 1930. Its original purpose was connected to the settlement of German reparations after World War I, but its role evolved as the international monetary system changed. Today, its members include central banks from economies around the world, making it an important institution in global financial coordination.

The headquarters are in Basel, Switzerland, and the organization also has offices in Hong Kong and Mexico City. The BIS is often confused with the International Monetary Fund or World Bank: those institutions work with governments on broader international financial and development matters, whereas the BIS is especially focused on central-bank cooperation.