Ethics and conduct

The BIS Board of Directors and Management attach the highest importance to ethics and conduct.

The Bank's independent Ethics and Conduct function provides reasonable assurance that the activities of the Bank and its staff are conducted in accordance with the highest ethical standards and the relevant codes of conduct adopted by the Bank.

The Chief Ethics and Conduct Officer (CECO) leads the Ethics and Conduct function. The CECO assists Management in identifying and assessing ethics and conduct issues, and provides guidance and training to staff on related matters. The CECO reports to the General Manager and the Deputy General Manager and also has a direct reporting line to the Audit Committee, which is an advisory committee to the Board of Directors.

The BIS Code of Conduct details the following general principles which require that all BIS staff members:

• maintain the highest standards of conduct both at and outside the Bank
• devote their working activities to the service of the Bank
• avoid possible conflicts of interest with other activities
• not accept other functions or employment unless expressly authorised to do so by the Bank
• maintain the utmost discretion with regard to confidential information concerning the Bank

The members of the Board of Directors are subject to a specific code of conduct.