Basel Committee on Banking Supervision

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Basel Committee on Banking Supervision

An organization that seeks to provide a supranational framework for banking regulation. It prepares major overhauls to regulatory systems, such as the Basel II Accord. It does not have enforcement authority, but rather makes recommendations to member countries. It was established by the central banks of the G-10 in 1974. It is also called the BIS Committee. It takes both its names from the fact that it meets four times per year at the Bank for International Settlements (BIS) in Basel, Switzerland.
References in periodicals archive ?
The board of listed Sports Direct has issued a barbed note to shareholders on the London Stock Exchange, saying how it was "delighted that members of the BIS Committee had finally accepted the company's invitation to visit the Sports Direct's warehouse on an unannounced basis".
MP Iain Wright, chair of the BIS Committee, said: "Irresponsible business behaviour and poor corporate governance certainly act against the interests of workers, but they also act as a brake on long-term prosperity and profitability in companies, as well as tarnishing the reputation of business.
Hartlepool MP Iain Wright, chair of the BIS Committee, said: "Irresponsible business behaviour and poor corporate governance certainly act against the interests of workers, but they also act as a brake on long-term prosperity and profitability in companies, as well as tarnishing the reputation of business and undermining public trust in enterprise.
A challenge, not by replacing a central bank with some other kind of central body but mainly because it reduces the functions of the central body and, in an extreme case, may obviate the need for a central body entirely for certain functions", according to the BIS Committee on Payment and Market Infrastructures.
Iain Wright MP, chair of the BIS committee, said "Government should have explored much more thoroughly options to keep the Redcar plant open rather than washing its hands too quickly".
Ms McKechin, a member of the Business, Innovation and Skill Select Committee (BIS), said the bosses of Better Capital had been asked to attend a joint session of the Bis Committee and the Scottish Affairs Committee.
The BIS Committee report also questions why responsibility for LEPs was spread across two different ministries, a situation that had led to "confusion".
In a report last year, the BIS Committee said inclusion of international students in the figures risks undermining a world-class export market.
Mr Kennedy praised the efforts of BIS committee members, the Arabian Celts, JJ's Irish Restaurant and Bahrain RFC for helping to organise the event.
The BIS committee charged with the agreement said in a statement "to provide a disincentive for banks facing the highest charge to increase materially their global systematic importance in the future, an additional 1% surcharge would be applied to such circumstances.
This paper builds on the previous work of the BIS Committee on Payment and Settlement Systems; all three papers are revisions of consultative papers issued in July 1999.