The Irving Fisher Committee on Central Bank Statistics (IFC) was established in 1997 on the initiative of a number of central bank statisticians attending the 1995 Session of the International Statistical Institute (ISI) in Beijing. Its objective was to promote cooperation amongst central banks on statistical methodological issues through the sponsoring of meetings in the context of biennial ISI sessions (Istanbul 1997; Helsinki, 1999; Korea, 2001; Berlin 2003). In 2002 the BIS organised the first “independent” conference of the IFC on the theme of “Challenges to Central Bank Statistical Activities”. 160 statisticians representing 73 countries participated in this conference and in all more than 50 papers were presented. The latter were published in the IFC Bulletin, the official publication of the Committee.