Basel Committee on Banking Supervision

The BIS hosts and supports a number of international institutions engaged in standard setting and financial stability, one of which is BCBS.

Yet like the other committees, BCBS has its own governance arrangements, reporting lines and agendas, guided by the central bank governors of the G10 countries.

[7] The Basel Committee formulates broad supervisory standards and guidelines and recommends statements of best practice in banking supervision (see bank regulation or "Basel III Accord", for example) in the expectation that member authorities and other nations' authorities will take steps to implement them through their own national systems.

[citation needed] Currently, committee members come from Argentina, Australia, Belgium, Brazil, Canada, China, the European Union, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.

It cannot communicate conclusions, nor make proposals, to bodies outside the Bank for International Settlements without the general agreement and support of these governors.