The following Financial Services guidance note Produced in partnership with Morrison & Foerster LLP provides comprehensive and up to date legal information covering:
The Basel Committee on Banking Supervision (BCBS), consisting 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 is known as the Basel Accord (or Basel I).
Most countries in the world have since adopted the Basel Accord, or elements of it, and in many cases have applied its provisions to purely domestic banks and financial institutions, as well as internationally–active banks.
The purpose of the Basel Accord was to strengthen the stability of the international banking system and achieve some degree of consistency between bank capital frameworks applied in different countries.
Initially, the Basel Accord focused almost entirely on banks holding sufficient capital to protect them against the credit risk to which they were exposed. Various modifications and supplements were made over several years, includi
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