Basel Committee on Banking SupervisionThe Basel Committee on Banking Supervision is the principal standard setting body (through the issue of the Basel Core Principles and promulgation of Basel ratios for determining capital and liquidity adequacy) for the supervision of internationally active banks. Many jurisdictions also draw heavily on the BCBS’ work to guide them in the supervision of all other banks.
The Group has worked closely with the Basel Committee since the Group was formed at the instigation of that Committee in 1980 (see History).
Early on the Basel Committee and the Group together produced a paper entitled “The Implementation of the Basel Concordat: Practical aspects of International Collaboration between Banking Supervisory Authorities” circulated to supervisors world-wide in 1987. The Group collaborated with the Basel Committee in reviewing the 1987 paper and re-issuing its proposals in 1990 as a supplement to the 1983 Concordat. The Group then joined with the Basel Committee as a Working Group on Cross Border Banking which produced a number of reports before it was subsumed into the Basel Committee’s International Liaison Group.
GIFCS is currently represented on the Basel Committee's Consultative Group which brings together the chairs of various regional groups and a number of jurisdictions not included in the membership of the full Committee.