Basel Committee on Banking Supervision

Definition

An institution created in 1974 by central bank Governors from the Group of Ten nations. Its committee members come from Argentina, Australia, the United Kingdom, United States, France, Germany, India and other countries. Members meet four times a year at the Bank for International Settlements (BIS) in Basel, Switzerland. The role of the committee is to formulate best practices in banking supervision that are implemented by participating nations in their respective banking systems. Information on natural supervisory issues and banking techniques is exchanged between the members.

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