Basel Committee on Banking Supervision

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The Basel Committee on Banking Supervision (BCBS, often shortened as Basel Committee) is a body that brings together bank supervisory authorities to set common prudential standards and policy. It relies on a permanent secretariat hosted by the Bank for International Settlements in Basel, Switzerland. The Basel Committee sets global standards for the prudential regulation and supervision of banks. It has no formal supranational authority, and its decisions do not have legal force; members commit to implementing and applying its standards in their domestic jurisdictions. The committee was established by the central bank governors of the Group of Ten (G10) countries in 1974. As such and despite the G10's name, it had twelve founding members, namely the respective authorities from Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, the Netherlands, Sweden, Switzerland, the United Kingdom, and the United States.

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