Is the Basel Committee part of BIS ?

The Basel Committee plays a crucial role in ensuring global financial stability and the stability of individual banks. It sets standards for bank capital, risk management, and supervisory practices. The committee was established in 1999 by the G20 leaders as a framework to promote international cooperation and coordination in banking regulations.

The Basel Committee's primary purpose is to promote financial stability by ensuring that banks have sufficient capital and are able to manage their risks effectively. It also works to ensure that banking systems are sound and that financial instruments are safe and liquid.

The Basel Committee's role is to coordinate the activities of national banking authorities, as well as to collaborate with other international organizations and forums. It has 29 member countries, including the major central banks of the world's major economies.

The Basel Committee's activities are focused on four main areas: capital adequacy, risk management, supervisory practices, and international cooperation. The committee has been instrumental in the development of the international banking crisis of 2008, which led to the implementation of new capital requirements and the creation of the Financial Stability Oversight Council (FSOC), which is responsible for monitoring the health of the global financial system.

The Basel Committee's work is based on the principles of transparency, accountability, and cooperation. It publishes regular reports that provide detailed information on the state of the global financial system and the activities of its member countries.

The relationship between the Basel Committee and the Bank for International Settlements (BIS) is central to the functioning of the international financial system. The Basel Committee is a member of the BIS, and the BIS is the central bank of the Bank for International Settlements.

The BIS plays a key role in the coordination and oversight of the activities of the Basel Committee. It provides the secretariat services for the Basel Committee and hosts the committee's meetings.

The relationship between the Basel Committee and the BIS is based on a shared vision of promoting financial stability and the stability of individual banks. Both organizations believe that strong banking systems are essential for the stability of the global economy.

Conclusion

In conclusion, the Basel Committee is an important international organization that plays a crucial role in ensuring global financial stability and the stability of individual banks. The committee is a part of the Bank for International Settlements (BIS), which is the central bank of central banks. The relationship between the Basel Committee and the BIS is based on a shared vision of promoting financial stability and the stability of individual banks.