Established in 1930, the Bank for International Settlements (BIS) is the world's oldest international financial institution. It is owned by 63 member central banks, representing countries from around the world that together account for about 95% of world GDP. The mission of the BIS is to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks. It carries out this mission by being a forum for discussion and policy analysis, a center for economic and monetary research, a prime counterparty for central banks in their financial transactions, and an agent or trustee in connection with international financial operations.