Which organization, founded in 1930, is headquartered in Basel and serves central banks?

The Bank for International Settlements was founded in 1930 and is headquartered in Basel, Switzerland.

The BIS was created under the Hague Agreements to handle German reparations after World War I. Its purpose later broadened, and it became a forum where central banks cooperate on monetary and financial matters.

The BIS provides banking services to central banks, conducts economic research, and hosts committees that develop international standards. It does not provide ordinary retail banking services and is not a development bank that lends directly to countries for infrastructure projects.

The organization is often described as the bank for central banks. Its main building is in Basel, although it also maintains representative offices in Hong Kong and Mexico City.