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Basel Committee (BCBS) does not possess formal super national supervisory authority and hence its conclusions do not have legal force. True?

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Question ajoutée par Vinod Jetley , Assistant General Manager , State Bank of India
Date de publication: 2014/10/03
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Basel Committee on Banking Supervision (BCBS) : The present assessment is considered preliminary. A follow-up assessment will take place once the EU authorities have published the final rules that implement Basel recommendations.

Malik Khalid Mahmood
par Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

Yes, its only for;

The Basel Committee is the primary global standard-setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. Mr Stefan Ingves, Governor of Sveriges Riksbank, is the chairman of the Basel Committee. He was appointed as Basel Committee chairman in July2011 and has been reappointed until June2017.

The Committee reports to the Group of Governors and Heads of Supervision (GHOS). The Committee seeks the endorsement of GHOS for its major decisions and its work programme.

The Committee's Secretariat is located at the Bank for International Settlements in Basel, Switzerland, and is staffed mainly by professional supervisors on temporary secondment from member institutions. In addition to undertaking the secretarial work for the Committee and its many expert sub-committees, it stands ready to give advice to supervisory authorities in all countries. Mr William Coen is the Secretary General of the Basel Committee.

Divyesh Patel
par Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Hi Sir,

Thank you for your invitation.

Apologies, but I do not have any knowledge on this topic.

 

Snezana Brankovic
par Snezana Brankovic , • Senior Consultant in Marketing Department , „Stankom” Business System

I think itis true.

RAJ DAHIYA
par RAJ DAHIYA , Project Manager - Energy Optimization , Siemens

Go by the Experts !!

Utilisateur supprimé
par Utilisateur supprimé

I do not have any information

I will just answers colleagues

georgei assi
par georgei assi , مدير حسابات , المجموعة السورية

I agree with the answers to colleagues

Saiful Islam Hiron
par Saiful Islam Hiron , Site HR Manager , Handicap International

Agree with Krishna...

Utilisateur supprimé
par Utilisateur supprimé

agreed with all

Alex Al Yazouri
par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

I would agree with the experts. No power to enforce their standards and regulations. 

True.

Muhsen Zeyadah
par Muhsen Zeyadah , Human Resources Manager , agricultural products Food Company

Yes, it has not any legal force. check the following from their charter:

* Legal status:

The BCBS does not possess any formal supranational authority. Its decisions do not have legal force. Rather, the BCBS relies on its members' commitments to achieve its mandate.

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