Beginning in 1998, the finance sector established the Joint Year 2000 Council, representing the public side of finance. In April 1998, at the first finance roundtable on Year 2000, the Bank for International Settlements (BIS) based in Basle, Switzerland, and its representatives agreed to establish a Joint Year 2000 Council. Key sponsors included: Basle Committee on Banking Supervision, Committee of Payment and Settlement Systems; the International Association of Insurance Supervisors; and the International Organization of Securities Commissions.