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General Knowledge Today - 4

The Basel Committee on Banking Supervision is an institution formed in 1974 consisting of central bank governors from the G-10 nations and 27 additional members that works to strengthen the global banking system. It is headquartered in Basel, Switzerland and issues capital guidelines for banks, including Basel I in 1988 and Basel II in 2006 that were adopted by countries including India. The committee is currently working on Basel III.

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26 views1 page

General Knowledge Today - 4

The Basel Committee on Banking Supervision is an institution formed in 1974 consisting of central bank governors from the G-10 nations and 27 additional members that works to strengthen the global banking system. It is headquartered in Basel, Switzerland and issues capital guidelines for banks, including Basel I in 1988 and Basel II in 2006 that were adopted by countries including India. The committee is currently working on Basel III.

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Articles of General Knowledge Today

What is Basel Committee on Banking Supervision?


2011-04-21 10:04:41 GKToday

Basel Committee on Banking Supervision is an institution of Governors of the Central Banks of "G-10" nations and was formed in 1974. It has 27 members viz. 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. Out of them 12 are permanent members and its headquarters are located at Basel Switzerland. This Basel Committee on Banking Supervision works on strengthening the soundness and stability of the banking system, internationally. In July 1988, it had released the guidelines on Capital Measures and Capital standards, which were called Basel-I. These guidelines were accepted by RBI also and were implemented w.e.f 1992. In June 2006, it again issued the revised guidelines which are called Basel II. In line with the Basel II, RBI had issued the detailed guidelines from 2007. At Present Basel III is under development.

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