What is the 'Basel Committee On Bank Supervision'
The Basel Committee on Bank Supervision is a committee established by the central bank governors of the Group of Ten countries in 1974 that seeks to improve the supervisory guidelines that central banks or similar authorities impose on both wholesale and retail banks. The committee makes banking policy guidelines for both member and non-member countries and helps authorities to implement its suggestions.
BREAKING DOWN 'Basel Committee On Bank Supervision'
Though the committee itself does not have any superior authority over the governments and central banks to which it makes recommendations, its guidelines are broadly followed and well regarded in the international central banking and finance community.