The Bank for International Settlements (BIS) was established in 1930 by intergovernmental convention. The BIS promotes co-operation among central banks. In this capacity it carries out four main functions:
- it holds and manages deposits from A large number of central banks throughout the world;
- it serves as a forum for international monetary co-operation;
- it acts as an agent or trustee in the execution of various international financial agreements; and
- it carries out research and issues publications on monetary and economic subjects