Bfis Full Form - Meaning & Context
BFIS Full Form
BFIS stands for Bank for International Settlements, an international financial institution that serves as a bank for central banks and promotes monetary and financial stability globally.
What is BIS?
The Bank for International Settlements is the world's oldest international financial organization, established in 1930. It fosters cooperation among central banks and provides banking services to them while pursuing monetary and financial stability.
Key functions of BIS include:
- Promoting central bank cooperation
- Providing banking services to central banks
- Conducting economic research
- Serving as a forum for policy discussion
Role in Global Finance
BIS plays a crucial role in the global financial system by facilitating dialogue among central bankers, conducting cutting-edge research on monetary policy, and providing a platform for developing international regulatory standards.
The institution's Basel Committee on Banking Supervision has developed the influential Basel Accords, which set international standards for banking regulation and risk management.