Basel Accord [Archived]
Produced in partnership with Morrison & Foerster LLP
Basel Accord [Archived]

The following Financial Services practice note Produced in partnership with Morrison & Foerster LLP provides comprehensive and up to date legal information covering:

  • Basel Accord [Archived]
  • Purpose and focus of the Basel Accord
  • Revision of the Basel Accord
  • IRB approach
  • The Basel II framework document and Basel III reforms
  • Banking Regulation—Getting The Deal Through

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

ARCHIVED: This archived Practice Note provides a legislative history of the Basel Accord, which was subsequently succeeded by the Basel II andBasel III reforms. It is not maintained and is for background information only. For further information regarding Basel II, see Practice Note: Basel II—essentials [Archived], and for further information on Basel III and the legislation through which the framework was implemented in the EU, see Practice Note: CRD IV—essentials.

The Basel Committee on Banking Supervision (BCBS), which at the time consisted of the central banks of governors of the so-called G10 countries (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom and the United States), published a report in July 1988 setting out a proposed framework for measuring capital adequacy, and minimum capital requirements, for internationally-active banks. This was known as the Basel Accord (or Basel I).

Most countries in the world adopted the Basel Accord, or elements of it,

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