What role does the Bank for International Settlements (BIS) serve?

The Bank for International Settlements (BIS) plays a vital role as the central bank for central banks. It primarily serves the financial stability of the global economy by fostering international monetary and financial cooperation. The BIS provides essential services to central banks, such as acting as a forum for monetary policy discussions, facilitating communication among central banks, and promoting financial stability.

One of the core functions of the BIS is to provide banking services to central banks and international organizations, enabling them to handle their financial operations more effectively. This role is crucial in promoting collaboration and coordination among central banks, especially during times of economic uncertainty.

Additionally, the BIS conducts economic research and gathers data that helps inform the monetary policy frameworks and decisions of member central banks. By serving this central role, the BIS supports a more stable and interconnected global financial system.