Bank for International Settlements
The National Bank is one of the historical shareholders of the Bank for International Settlements. Established in Basle in 1930, the "central bank for central banks" plays a key role in supporting the G10 committees and the Financial Stability Forum, which are responsible for monitoring and regulating the international financial system.
The G10 emerged in the 1960s as a group of creditor countries which stated their willingness to allocate additional financial resources to the International Monetary Fund (the General Agreements to Borrow). Today, it comprises representatives from 11 countries : United States, Japan, Germany, France, United Kingdom, Italy, Canada, Netherlands, Belgium and Sweden plus Switzerland. Once a year it meets at the level of the Finance Ministers and central bank governors alongside the annual meeting of the IMF.
A number of standing committees come under the authority of the "G10 governors", meeting regularly in Basle. The Committee on the Global Financial System monitors developments on the financial markets and evaluates instruments for preventing the risks of financial crisis. The Basle Committee on Banking Supervision deals with questions concerning banking supervision, particularly the capital requirements which credit institutions must meet in order to cover their risks. Payment and settlement systems are also studied via the Committee on Payments and Settlements Systems . Finally, the Markets Committee monitors activity on the foreign exchange markets.