| The Basel Committee was established at the end of 1974 comprising of members from Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. Countries are represented by their central bank and also by the authority with formal responsibility for the prudential supervision of banking business where this is not the central bank.
The Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in the expectation that individual authorities will take steps to implement them through detailed arrangements - statutory or otherwise - which are best suited to their own national systems. (more...) |
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The Committee maintains links with supervisors not directly participating in the committee with a view to strengthening prudential supervisory standards in all the major markets. These efforts take a number of different forms, including:
- the development and dissemination throughout the world of policy papers on a wide range of supervisory matters;
- the pursuit of supervisory cooperation through support for regional supervisory committees and sponsorship of an international conference every two years;
- cooperation with the FSI in providing supervisory training both in Basel and at regional or local level. |
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See the full text on the history of the Basel Committee on Banking Supervision (PDF, 7 pages, 58 kb) |