The BIS, established in 1930, could be described as a club or association for central bankers. The BIS was established in the context of the Young Plan, which dealt with the issue of the reparation payments imposed on Germany by the Treaty of Versailles following the First World War.
The name of the BIS is derived from this original role, and was also created to promote central bank cooperation in general. The reparations issue quickly faded, focusing the activities of the BIS entirely on world-wide cooperation among central banks and, increasingly, other multi-lateral agencies in pursuit of monetary and financial stability. Today, central banks from 55 countries are members of the BIS.