Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision is an institution created by the
central bankGovernors of the "Group of Ten" nations . It was created in 1974and meets regularly four times a year.
Its membership is now composed of senior representatives of bank supervisory authorities and central banks from the G-10 countries (
Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, the United Kingdomand the United States), and representatives from Luxembourgand Spain. It usually meets at the Bank for International Settlementsin Basel, where its 12 member permanent Secretariat is located.
The Basel Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in banking supervision (see
bank regulationor Basel II Accord, for example) in the expectation that member authorities and other nations' authorities will take steps to implement them through their own national systems, whether in statutory form or otherwise.
The purpose of the committee is to encourage convergence toward common approaches and standards. Dieter Kerwer reports that "the BCBS is not a classical multilateral organization. It has no founding
treaty, and it does not issue binding regulation. Rather, its main function is to act as an informal forum to find policy solutions and to promulgate standards." (pp 619) [cite journal |author=Kerwer, Dieter |title=Rules that many use : standards and global regulation |journal=Governance |year=2005 |pages=611–632 |volume=18 |issue=4 |date=October 2005 |doi=10.1111/j.1468-0491.2005.00294.x]
The present Chairman of the Committee is
Nout Wellink, President of the Netherlands BankFact|date=February 2007, who succeeded Jaime Caruanaof the Bank of Spainon 1 July 2006.Fact|date=February 2007
* [http://www.bis.org/bcbs/index.htm Basel Committee on Banking Supervision] at the Bank for International Settlements website
*http://bis2information.org: Practical articles, on BIS2 and risk modelling, submitted by professionals to help create an industry standard.
Wikimedia Foundation. 2010.
Look at other dictionaries:
Basel Committee on Banking Supervision — committee of the Bank for International Settlements (International Settlements, Bank for), an institution that promotes financial and monetary cooperation among the world s central banks. The Basel Committee on Banking Supervision was… … Universalium
Basel Committee On Bank Supervision — A committee established by the central bank governors of the Group of Ten countries in 1974 that seeks to improve the supervisory guidelines that central banks or similar authorities impose on both wholesale and retail banks. The committee makes… … Investment dictionary
Basel Committee — USA A committee on banking supervision that provides a cooperative forum for its members by facilitating the exchange of information, techniques and approach to supervision and by establishing guidelines and supervisory standards. Its members… … Law dictionary
Basel Committee — A committee of the Bank for International Settlements that formulates broad supervisory standards for best banking practice and supervision, including setting the minimum capital standards for banks. ► See also BIS … Financial and business terms
Basel II Accord — Basel II (also known as Βασιλεία ΙΙ in Greek) is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II, which was initially… … Wikipedia
Basel Accord — Known as the Basel Capital Accord. Policy agreement on the supervision of banks, developed in 1988 by the Basel Committee on Banking Supervision. The Accord aims to achieve international convergence in the measurement of capital adequacy of banks … Law dictionary
Basel Capital Accord — Known as the Basel Accord. Policy agreement on the supervision of banks, developed in 1988 by the Basel Committee on Banking Supervision. The Accord aims to achieve international convergence in the measurement of capital adequacy of banks and to… … Law dictionary
Basel I — Known as the Basel Accord. Policy agreement on the supervision of banks, developed in 1988 by the Basel Committee on Banking Supervision. The Accord aims to achieve international convergence in the measurement of capital adequacy of banks and to… … Law dictionary
Basel (disambiguation) — Basel may refer to:*Basel, a city in Switzerland, capital of the canton of Basel City * Basel (canton), a historical Swiss canton, now divided into two cantons: **Basel Country **Basel City * FC Basel a football (soccer) club based out of Basel,… … Wikipedia
Basel I — is the round of deliberations by central bankers from around the world, and in 1988, the Basel Committee (BCBS) in Basel, Switzerland, published a set of minimal capital requirements for banks. This is also known as the 1988 Basel Accord, and was … Wikipedia