Central banks and the International Monetary Fund play an important role in the gold price. At the end of 2004, central banks and official organizations held 19% of all above-ground gold as official gold reserves. The ten-year Washington Agreement on Gold (WAG), which dates from September 1999, limited gold sales by its members (Europe, United States, Japan, Australia, the Bank for International Settlements and the International Monetary Fund) to less than 400 tonnes a year. In 2009, this agreement was extended for five years, with a limit of 500 tonnes. European central banks, such as the Bank of England and the Swiss National Bank, have been key sellers of gold over this period. In 2014, the agreement was extended another five years at 400 tonnes per year. In 2019 the agreement was not extended again.