BIS invites nine new members to join it

At its meeting on 9th September 1996, the Board of Directors decided to invite the nine central banks or equivalent institutions listed below to become members of the Bank for International Settlements by subscribing for shares of the third tranche of the capital of the BIS. The institutions in question, which have been increasingly involved in central bank co-operation at the BIS in recent years and already make a substantial contribution to the Bank's activities, are as follows:

• Banco Central do Brasil
• The People's Bank of China
• Hong Kong Monetary Authority
• Reserve Bank of India
• The Bank of Korea
• Banco de México
• Central Bank of Russian Federation
• Saudi Arabian Monetary Agency
• The Monetary Authority of Singapore

Formal accession to membership by these institutions will take place as soon as the necessary formalities relating to the subscription of shares of the third tranche of the Bank's capital have been completed.