An international bank based in Basel, founded in 1930 to coordinate payments of reparations after the First World War. Its possible role as the principal international bank was taken over after 1945 by the International Monetary Fund. The BIS has acted as trustee for the Organization for Economic Cooperation and Development and the European Monetary Agreement, and as a clearing-house for European Currency Units. It sets capital adequacy ratios for European banks, and compiles statistics on international debt. Most European central banks are members of the BIS, as are those of Canada, Japan, and the United States.
http://www.bis.org The official website of the Bank for International Settlements with links to working papers and economic statistics.