Basel Committee on Banking Supervision (BCBS) is the international body that develops banking standards that make the banking sector safer. BCBS was founded in 1975 and is based in Basel, Switzerland. It consists of representatives from the banking supervisory authorities and central banks of the G-10 countries and the European Commission. The main purpose of BCBS is to ensure a stable, efficient financial system. This blog post provides an overview of the Basel Committee on Banking Supervision (BCBS).The Basel Committee on Banking Supervision is a key body that develops the international standards for banking regulations. It makes recommendations and provides guidelines for the implementation of banking regulations.One of the main responsibilities of BCBS is to ensure the safety and soundness of the international banking system. It does this by providing standards and guidelines for the implementation of international banking regulations. These regulations are designed to prevent or mitigate financial crises.BCBS consists of members from the G-10 countries and representatives from the European Commission. The members are appointed by their respective governments. Usually, they work at central banks or equivalent authorities in their country. The main responsibilities of BCBS are:1- Guidance for national authorities on financial regulation2- Recommendation for international standards on banking regulation3- Oversee the implementation of the Basel Accords4- Supervise the implementation of their recommendationsThe BCBS was established in 1974 by the central banks of the G-10. The main objective of the BCBS is to promote international financial stability. The BCBS is based in Basel, Switzerland. It also has offices in Hong Kong, London, Washington DC and Beijing.The Basel Committee on Banking Supervision consists of a chairperson, one or two deputy chairpersons and 16 other members. The chairperson and deputies are appointed by the Bank for International Settlements (BIS).
