Bank of Basel

About Bank of Basel

The Bank of Basel was founded in 1840 to finance Basels silk ribbon industry. The bank was one of the first Swiss cantonal banks. Basel became a center of Swiss banking due to its location at the intersection of Switzerland, France, and Germany. The city later became the home of the Bank for International Settlements, founded in 1930. The BIS was originally established to manage German reparations after World War I. The choice of Basel reflected Swiss neutrality and the citys banking tradition. Basel remains the center of global banking regulation through the Basel Committee on Banking Supervision, which meets at the BIS. The citys name has become synonymous with banking regulation worldwide.