The Bank for International Settlements (BIS) is to expand its central bank membership base and to increase collaboration in its work as a forum for international co-operation and as a hub for central banks and other financial authorities.

The BIS Board of Directors has decided to invite the central banks of Kuwait, Morocco and Vietnam to become members of the BIS. This is the first such expansion since 2011 and will take the number of members to 63.

Jens Weidmann, Chairman of the BIS Board, welcomed the expansion and said: "Reviewing membership at regular intervals ensures that the membership base remains in keeping with the Bank's global profile and its mandate to promote global monetary and financial stability."

Also convening in Basel, the Global Economy Meeting (GEM) agreed to expand the membership of two of the central bank committees based at the BIS, the Committee on the Global Financial System (CGFS) and the Markets Committee.

The CGFS, a central bank forum for monitoring and analyzing broad financial system issues, will invite Argentina, Russia, Saudi Arabia, South Africa and Thailand to join. This will take the number of central bank members to 28.

The Markets Committee, which monitors financial market developments, will invite Indonesia, Malaysia, Russia, South Africa and Turkey to join. This will take the number of central bank members to 27.

GEM Chair Mark Carney said that, following the expansion, emerging market economies (EMEs) would make up about two fifths of the membership of each committee.

"In the last decade, EMEs have become much larger and ever more connected to the global financial system," he said. "Having a representative range of views on financial market and monetary matters will benefit the citizens of EMEs and advanced economies alike."

How do I enable cookies in my browser?

Internet Explorer
1. Click the Tools button (or press ALT and T on the keyboard), and then click Internet Options.
2. Click the Privacy tab
3. Move the slider away from 'Block all cookies' to a setting you're comfortable with.

Firefox
1. At the top of the Firefox window, click on the Tools menu and select Options...
2. Select the Privacy panel.
3. Set Firefox will: to Use custom settings for history.
4. Make sure Accept cookies from sites is selected.

Safari Browser
1. Click Safari icon in Menu Bar
2. Click Preferences (gear icon)
3. Click Security icon
4. Accept cookies: select Radio button "only from sites I visit"

Chrome
1. Click the menu icon to the right of the address bar (looks like 3 lines)
2. Click Settings
3. Click the "Show advanced settings" tab at the bottom
4. Click the "Content settings..." button in the Privacy section
5. At the top under Cookies make sure it is set to "Allow local data to be set (recommended)"

Opera
1. Click the red O button in the upper left hand corner
2. Select Settings -> Preferences
3. Select the Advanced Tab
4. Select Cookies in the list on the left side
5. Set it to "Accept cookies" or "Accept cookies only from the sites I visit"
6. Click OK

The Bank for International Settlements (BIS) is to expand its central bank membership base and to increase collaboration in its work as a forum for international co-operation and as a hub for central banks and other financial authorities.

The BIS Board of Directors has decided to invite the central banks of Kuwait, Morocco and Vietnam to become members of the BIS. This is the first such expansion since 2011 and will take the number of members to 63.

Jens Weidmann, Chairman of the BIS Board, welcomed the expansion and said: "Reviewing membership at regular intervals ensures that the membership base remains in keeping with the Bank's global profile and its mandate to promote global monetary and financial stability."

Also convening in Basel, the Global Economy Meeting (GEM) agreed to expand the membership of two of the central bank committees based at the BIS, the Committee on the Global Financial System (CGFS) and the Markets Committee.

The CGFS, a central bank forum for monitoring and analyzing broad financial system issues, will invite Argentina, Russia, Saudi Arabia, South Africa and Thailand to join. This will take the number of central bank members to 28.

The Markets Committee, which monitors financial market developments, will invite Indonesia, Malaysia, Russia, South Africa and Turkey to join. This will take the number of central bank members to 27.

GEM Chair Mark Carney said that, following the expansion, emerging market economies (EMEs) would make up about two fifths of the membership of each committee.

"In the last decade, EMEs have become much larger and ever more connected to the global financial system," he said. "Having a representative range of views on financial market and monetary matters will benefit the citizens of EMEs and advanced economies alike."