The Bank for International Settlements (BIS), established in 1930, is an international financial organization owned by 63 central banks representing nearly 95% of global GDP. Its mandate is to promote global monetary and financial stability through international cooperation. Initially created to manage reparation payments from Germany post First World War, the BIS evolved to facilitate central bank cooperation generally. Throughout its history, the BIS has adapted to the changing global financial landscape. It played a pivotal role in the post-war reconstruction of Europe and has been instrumental in transatlantic monetary cooperation during the Bretton Woods era. From the 1970s, it has responded to financial globalization by developing standards and guidelines for the global financial system. Since the 1990s, the BIS has expanded its membership to include emerging market economies and established regional offices to better serve its global membership. The Great Financial Crisis of 2007–2009 led to the adoption by many central banks of macroprudential approaches to financial stability, a concept long advocated by the BIS. In recent years, the BIS has focused on responsible financial innovation, creating the BIS Innovation Hub to support central banks in developing public goods in financial technology. As it approaches its centenary, the BIS continues to provide a global meeting place for central banks, offer thought leadership through research and deliver tailored banking services, all aimed at achieving global monetary and financial stability.