Basel Committee on Banking Supervision
The Basel Committee on Banking Supervision was founded at the end of 1974 by the central bank governors of the Group of Ten (G10). It is located in Basel at the Bank for International Settlements (BIS). The committee is made up of representatives of the central banks and banking supervisory authorities of the following 13 countries: Belgium, Germany, France, Italy, Japan, Canada, Luxembourg, Netherlands, Sweden, Switzerland, Spain, United Kingdom and USA. Switzerland is represented on the committee by the SFBC and the Swiss National Bank. The main tasks of the Basel Committee include - in addition to the general objective of strengthening the security and reliability of the international financial system - promulgating minimum international standards and guidelines for banking supervision and disseminating and fostering best practice and common methodologies in banking and supervisory activities. The Basel Committee also seeks to facilitate and promote international collaboration between supervisory authorities in the control supervision of cross-border activities and multinational banking and financial services groups. In addition, the Committee also acts as an informal forum for the exchange of information on the development of national supervisory systems and practices as well as on current events in the financial community.