The Basel Committee on Banking Supervision is the primary global standard-setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision, and practices of banks worldwide with the aim of enhancing financial stability.

The Committee promotes understanding and convergence of supervisory approaches and practices through its ongoing work on developing guidance and best practices, holding regular supervisory seminars and conferences, and engaging in other forms of knowledge sharing. The members of the Basel Committee are banking supervisory authorities from 27 jurisdictions that represent major banking centers around the world. The Bank for International Settlements (BIS) hosts the Secretariat of the Basel Committee.

The Basel Committee’s core functions are:

– Developing and issuing global prudential standards and guidance;

– Conducting supervisory stress tests;

– Engaging in early warning exercises;

– Supporting the development of national supervisory frameworks and practices; and

– Promoting efforts to address cross-border banking issues.

The Committee seeks to contribute to financial stability by setting high-quality prudential standards and supervisory practices and by promoting their implementation across jurisdictions. The Basel III reforms, endorsed by the G20 in 2010, are a prime example of this work. In addition, the Basel Committee provides practical guidance on a wide range of banking supervisory topics and carries out analytical work on current and emerging risks to the banking sector. The Committee’s work is therefore important for both supervisors and the banks they supervise.

The Basel Committee is chaired by Mr Stefan Ingves, Governor of Sveriges Riksbank (the Swedish central bank) and Chairman of the Board of Governors of the BIS. Its Secretariat is based at the BIS in Basel, Switzerland.