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 ?
As the growth of international financial markets and cross-border money flows in the 1970s highlighted the lack of efficient banking supervision on an international scale--with the collapse in 1974 of Bankhaus Herstatt in Germany and of the Franklin National Bank in the United States going beyond the realm of national financial supervisors--the G10 central bank governors set up the Basel Committee on Banking Supervision. In December 1975, the Committee adopted the "Basel Concordat," calling on host- and home-country authorities to share supervisory responsibility for banks' foreign activities.
According to the Basel Committee on Banking Supervision, over 100 CRAs are in operation worldwide, but only five CRAs hold NRSRO status: A.M.
Many of these concerns, as well as recommendations to address them, were included in a comment letter to the IASB from the Basel Committee on Banking Supervision (Basel Committee) issued on July 30.
The Basel Committee on Banking Supervision aims to finish the new accord by the middle of this year, with implementation expected by the end of 2006.
The Basel Committee on Banking Supervision, an international organization of bank regulators, recently expressed its support for the International Accounting Standards Committee's (IASC) set of core accounting standards, based on its own comprehensive review.
Finally, after considerable negotiation, the Basel Committee on Banking Supervision of the Bank for International Settlements worked out the 1988 international accord on capital regulation.
The Basel Committee on Banking Supervision (BCBS) is focussing on bringing in regulation for cryptocurrencies.
Basel standards are an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09.
London: The Basel Committee on Banking Supervision's decision late last year not to propose changes to the favourable treatment of banks' sovereign exposures will shift the debate on how to reduce banks' risks from sovereign exposure back to the EU, Fitch Ratings says.
Basel Committee on Banking Supervision: A Primer on Governance, History, and Legitimacy--Part I
As regulators of financial centres, founded on Common Law principles, we embrace best practice and apply regulation which meets the requirements of the international standard-setters: the Basel Committee on Banking Supervision; the International Organisation of Securities Commissions; the International Association of Insurance Supervisors; and the Financial Action Task Force.
The Basel Committee on Banking Supervision is weighing updating its standards for capturing interest-rate risk on assets banks plan to hold to maturity, Stefan Ingves, the regulator's chairman, said in an interview.