bank-for-international-settlements

  • BIS is an international financial organisation for fostering international monetary and financial cooperation.
  • It serves as a bank for central banks of the sovereign nations.
  • It is owned by 60 member central banks, representing countries from around the world including India.
  • It carries out its work through its meetings, programmes and through the Basel Process.
  • It has been hosting international groups that pursue global financial stability and it has facilitated their interaction.
  • Founded in 1930, Its headquarter is in Basel, Switzerland.
  • As per a report by the Basel Committee on Bank Supervision (BCBS), the Reserve Bank of India has fallen short of meeting tougher requirements set by the Basel III norms. This report looked at the adoption status of Basel III standards by 30 global systemically important banks (G-Sibs) as of end-May 2019.
  • The RBI is yet to publish the securitisation framework and rules on Total Loss-Absorbing Capacity (TLAC) requirements.
  • The RBI is also yet to come out with draft regulations on revised Pillar 3 disclosure requirements, which took effect from end-2016.
  • Indian banks are in the process of implementing rules on Interest Rate Risk in the Banking Book (IRRBB). The central bank is also yet to come out with final guidelines on the same. Globally the rules were effective from end-2018.
  • BCBS is a committee under the Bank for International Settlements.