BIS chronology

This chronology chronicles some of the main events in the BIS's institutional history.

1929-1939  
3 Oct-13 Nov 1929 A committee to elaborate the structure and statutes of the Bank for International Settlements meets in Baden-Baden, Germany.
20 Jan 1930 The Final Act of the Second Hague Conference is adopted by heads of state and government representatives. This includes the agreement between the central banks of Belgium, France, Germany, Italy, Japan and the United Kingdom and a financial institution representing the United States to set up the Bank for International Settlements.
26-27 Feb 1930 Governors of the founding central banks meet in Rome to officially create the BIS, nominating its President and the members of its Board of Directors.
17 May 1930 The BIS opens its doors for business in the former Savoy Hôtel Univers in Basel, Switzerland.
30 Jul 1936 The Brussels Protocol, signed by government representatives, gives effect to Article X of the Hague Agreement protecting the BIS's property, assets and deposits.

1940-1949  
20 May-7 Oct 1940 The BIS seat is temporarily moved from Basel to Château-d'Oex, following the outbreak of hostilities between Germany and France.
Jul 1944 The United Nations Conference in Bretton Woods agrees to the creation of the International Monetary Fund (IMF) and the World Bank; it also adopts Resolution V calling for the liquidation of the BIS at "the earliest possible moment".
9 Dec 1946 First post-war meeting of the BIS Board of Directors.
13 May 1948 Washington Agreement: the BIS reimburses looted gold it had inadvertently received from the German Reichsbank during the war to the Allied Tripartite Commission. The Bretton Woods resolution calling for the liquidation of the BIS is put aside.

1950-1959  
19 Sep 1950 The agreement establishing the European Payments Union (EPU) is signed by 18 European governments. The BIS is appointed to act as Agent for the EPU.
31 Dec 1958

Full current account convertibility is restored for most European currencies. The EPU is wound up and replaced by the European Monetary Agreement (EMA).


1960-1969  
13 Apr 1964 Formal establishment of the Committee of Governors of the Central Banks of the member States of the European Economic Community. The Committee decides to have its secretariat and meetings at the BIS in Basel.
Sep 1964 The 10 main central banks represented at the BIS (G10) inaugurate regular meetings of gold and foreign exchange experts in Basel. The Gold and Foreign Exchange Experts' Committee is renamed the Markets Committee in May 2002.
9 Jun 1969 A BIS Extraordinary General Meeting amends the Statutes to delete all references to the 1930 Young Plan (reparations settlement).

1970-1979  
18 Apr 1971 The G10 Governors establish the Euro-currency Standing Committee (ECSC) to monitor developments in the eurocurrency markets. The Committee is renamed the Committee on the Global Financial System in February 1999.
1 Jun 1973 The European Monetary Co-operation Fund (EMCF), a joint support mechanism between European central banks, becomes operational. The BIS assumes functions of the Fund's Agent.
Dec 1974 In response to international bank failures, the G10 Governors establish the Basel Committee on Banking Regulations and Supervisory Practices (renamed the Basel Committee on Banking Supervision in Sep 1989). The BCBS holds its first meeting in Basel in February 1975.
Dec 1975 The Basel Concordat calls on host and home country authorities to share supervisory responsibility for banks' foreign activities.
May 1977 The BIS completes its move from the former Savoy Hôtel Univers to its new premises in the Tower building.
Jan 1978 The BIS Data Bank of monetary, financial and economic statistical time series becomes operational.

1980-1989  
Apr 1980 Governors entrust the ECSC with regular and systematic monitoring of international banking developments.
Oct 1981 First meeting at the BIS of the Group of Payment System Experts. The Group is formally established as the Committee on Payment and Settlement Systems (CPSS) in Nov 1990 and renamed the Committee on Payment and Market Infrastructures (CPMI) in 2014.
Apr 1983 Creation of the International Organization of Securities Commissions (IOSCO).
21 Mar 1986 Signature of an agreement between the BIS and the ECU Banking Association (EBA) assigning the function of agent of the private European currency unit (ecu) clearing and settlement system to the BIS.
10 Feb 1987 Conclusion of the BIS Headquarters Agreement with the Swiss Federal Council; creation of the BIS Administrative Tribunal.
28 Jun 1988 Creation by the European Council of the Committee for the Study of Economic and Monetary Union (the Delors Committee), which is to meet at the BIS in Basel.
Jul 1988 Central bank Governors endorse the BCBS document International Convergence of Capital Measurement and Capital Standards. Known as the Basel Capital Accord or Basel I, it is to be implemented by the end of 1992.

1990-1999  
Sep 1992 Creation of the Joint Vienna Institute (JVI) by the IMF, European Bank for Reconstruction and Development, International Bank for Reconstruction and Development, Organisation for Economic Co-operation and Development and BIS. The JVI provides technical training mainly to officials from the formerly planned economies in central and eastern Europe, the former Soviet Union and a number of Asian countries.
31 Dec 1993 The European Community (EC) Committee of Governors, created in 1964, is wound up and replaced by the European Monetary Institute (EMI). In November 1994, the EMI leaves the BIS in Basel and moves to Frankfurt am Main in Germany (it is replaced by the ECB in June 1998).
15 May 1995 Termination of the BIS agency functions for the EMI.
Jan 1996 Establishment of the Joint Forum, under the aegis of the BCBS, IOSCO and the International Association of Insurance Supervisors (IAIS), grouping senior bank, insurance and securities supervisors representing their supervisory constituencies.
23 Oct 1996 The IAIS decides to locate its secretariat at the BIS in Basel.
8 Jun 1997 First meeting of the Central Bank Governance Steering Group at the BIS.
Jul 1998 Opening of the BIS Representative Office for Asia and the Pacific in Hong Kong SAR. Host Country Agreement signed with the People's Republic of China.
Jul 1998 The BIS and BCBS create the Financial Stability Institute (FSI) to provide practical training to financial sector supervisors worldwide.
Feb 1999 The G7 Finance Ministers and Central Bank Governors create the Financial Stability Forum (FSF). The FSF secretariat is based at the BIS in Basel.
Oct 1999 Establishment of the Central Bank Governance Network at the BIS.

2000-2009  
8 Jan 2001 An Extraordinary General Meeting of the BIS limits the right to hold BIS shares exclusively to central banks and approves a mandatory repurchase of privately held shares.
Mar 2001 Establishment of the BIS Asian Consultative Council (ACC) as a forum between Asian central banks and the BIS Board of Directors and Management.
May 2002 The International Association of Deposit Insurers (IADI) decides to locate its secretariat at the BIS in Basel.
Nov 2002 Opening of the BIS Representative Office for the Americas in Mexico City. Host Country Agreement signed with Mexico.
1 Apr 2003 The BIS changes its unit of account from the gold franc (in force since 1930) to the SDR (IMF Special Drawing Rights).
26 Jun 2004 The Central Bank Governors and Heads of Banking Supervision endorse the release of International Convergence of Capital Measurement and Capital Standards: a Revised Framework, better known as Basel II.
Jan 2006 The BIS agrees to host the Irving Fisher Committee on Central Bank Statistics and its secretariat. The IFC was created in 1995 and is an affiliated member of the International Statistical Institute (ISI).
May 2008 Establishment of the BIS Consultative Council for the Americas (CCA) as an advisory committee to the BIS Board of Directors.
2 Apr 2009 The Group of Twenty (G20) creates the Financial Stability Board (FSB), replacing the FSF, with a new macroprudential supervision mandate. The FSB secretariat is based at the BIS in Basel.

2010-2017  
12 Nov 2010 The G20 Leaders endorse the FSB policy framework for addressing systemically important financial institutions (SIFIs).
Jun 2011 The BCBS releases Basel III: a global regulatory framework for more resilient banks and banking systems, introducing revised capital rules.
Jan 2013 The BCBS releases Basel III: the Liquidity Coverage Ratio and liquidity risk monitoring tools, aimed at strengthening global capital and liquidity regulations.
Mar 2013 The BIS International Data Hub (IDH) is created to facilitate the exchange and secure storage of confidential bank data among supervisory agencies and central banks in participating jurisdictions.
1 Sep 2014 The Committee on Payment and Settlement Systems (CPSS), first created in 1990, changes its name to the Committee on Payments and Market Infrastructures (CPMI).
7 Dec 2017 The Basel Committee's oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), endorses the outstanding Basel III post-crisis regulatory reforms.