Promoting international cooperation

Chapter 3 from BIS Annual Report 2019/20

The BIS acts as a forum for discussion and a platform for cooperation among policymakers, to foster monetary and financial stability. In this role, it contributes its expertise in economic research and analysis, its practical experience in banking and its approach to regulatory and supervisory issues to add value to the discussions and cooperative efforts. 

This international cooperation is known as the Basel Process. The Basel Process revolves around two main axes: regular high-level meetings of senior monetary and financial officials, and the BIS's support for and collaboration with international groups pursuing financial stability. The outcomes of this process are visible to the public in the form of committee reports analysing specific topics and internationally agreed standards produced by the standard-setting committees.

BIS committees

The following associations have secretariats at the BIS, but have their own separate legal identity and governance structure, and report to their members. 

The Financial Stability Board coordinates the work of national authorities and international standard setters in developing and promoting the implementation of effective regulatory, supervisory and other financial sector policies in the interest of global financial stability. 

The International Association of Deposit Insurers sets global standards for deposit insurance systems and promotes cooperation on deposit insurance and bank resolution arrangements. 

The International Association of Insurance Supervisors sets global standards for the insurance sector to promote effective and globally consistent supervision for the benefit and protection of policyholders and to contribute to global financial stability. 

The BIS is a member of the FSB and the IAIS.