The Committee's members come from Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, Hong Kong SAR, India, Indonesia, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The Committee's Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland. However, the BIS and the Basel Committee remain two distinct entities.
The Basel Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in banking supervision (see bank regulation or "Basel III 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 BCBS is to encourage convergence toward common approaches and standards. The Committee is not a classical multilateral organization, in part because it has no founding treaty. BCBS does not issue binding regulation; rather, it functions as an informal forum in which policy solutions and standards are developed.
The Committee is further sub-divided each of which have specific task forces to work on specific implementation issues:
The present Chairman of the Committee is Stefan Ingves, Governor of the central bank of Sweden (Sveriges Riksbank).
The Basel committee along with its sister organizations, the International Organization of Securities Commissions and International Association of Insurance Supervisors together make up the Joint Forum of international financial regulators.
Category:International finance institutions Category:Supranational banks Category:Central banks Category:Bank regulation Category:Committees
ca:Comitè de Basilea de:Basler Ausschuss es:Comité de Basilea fr:Comité de Bâle ko:바젤 은행 감독 위원회 id:Komite Basel it:Comitato di Basilea ja:バーゼル銀行監督委員会 no:Baselkomiteen for banktilsyn pl:Bazylejski Komitet Nadzoru Bankowego pt:Comitê de Supervisão Bancária de Basileia ru:Базельский комитет по банковскому надзору uk:Базельський комітет з питань банківського нагляду zh:巴塞爾銀行監理委員會This text is licensed under the Creative Commons CC-BY-SA License. This text was originally published on Wikipedia and was developed by the Wikipedia community.
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