Chapter 1 - The International Approach to Regulation Flashcards
What is the BIS?
Bank for International Settlements
Who are the clients of the BIS?
Central banks and international financial institutions
Which organisation helps countries implement BIS guidelines into national regulatory systems?
International Banking Federation (IBFed)
What is the BCBS?
Basel Committee on Banking Supervision
What does the BCBS do?
It is part of the BIS and provides forum for international cooperation on bank regulation.
How many members does the BCBS have?
28
What is the BCBS’s objectives?
Enhance financial stability and improve supervisory know how and the quality of banking supervision worldwide.
How many working groups does the BCBS?
5
What is the Basel Consultative Group and what does it do?
One of the working groups of the BCBS and provides a forum for deepening the Committee’s engagement with supervisors around the world on banking supervisory issues. It also engages with non member countries.
What are the Basel Accords?
Global standards on capital adequacy, liquidity and risk management developed by the BCBS.
How many countries are members of the Financial Stability Board?
24
Which international standards do members of the FSB commit to following?
The 12 key International Standards and Codes
How often does the FSB Plenary meet and what is their responsibility?
Twice a year - to promote international financial stability and hold out reach meetings with non member countries.
