Basel Committee on Banking Supervision

The Basel Committee on Banking Supervision ( Basel Committee on Banking Supervision; shorter than Basel Committee called ) was founded in 1974 by the central banks and banking supervisory authorities of the G10 countries. It has its seat at the Bank for International Settlements (BIS, Bank for International Settlements ) in Basel (CH).

Operation

The Committee shall meet every three months. Its main task is to contribute to the introduction of high and very uniform standards in banking supervision. For this purpose, the Committee shall prepare guidelines and recommendations, to which the supervisory authorities of a country can be based. These guidelines are not legally binding, but only represent recommendations that can be implemented into national law. It is generally assumed, however, that the recommendations be accepted, since the guidelines arise in discussion with banks and regulators around the world.

Members of the Basel Committee

In course of time the number of members has increased, members of the Basel Committee on Banking Supervision.

In addition to representatives of the ten leading industrial nations ( G10 ) to the committee now includes representatives of Argentina, Korea, Australia, Luxembourg, Mexico, Brazil, Russia, China, Saudi Arabia, Singapore, South Africa, Hong Kong, Spain, India, Indonesia and Turkey. In 2009 alone, seven additional members were by the Basel Committee in the month of March at once taken in June and again seven other new members. German representative is Sabine Lautenschlager - Peery.

Relation to the German Banking Supervision

The pronouncements of the Basel Committee are not legally binding. It is only to the formulation of guidelines and recommendations.

The recommendations but usually taken into national law in an appropriate form. This can be done by an EU directive, and an implementation of the law in Germany.

Tasks and objectives

The Basel Committee is a forum for regular cooperation between the members dar. He contributes worldwide to improve the quality and understanding of banking supervision in by:

  • Information exchange
  • Improvement of supervision techniques
  • Recommendation regulatory minimum standards

In this way, the Basel Committee contributes to the strengthening of the international banking system. He closes existing gaps in the international system of banking supervision.

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