SMRUTHY JACOBS3 MBA
BASEL NORMS
ASSIGNMENT No 1: BANK MANAGEMENT
BASEL COMMITTEE
The Basel Committee on Banking Supervision was established asthe Committee on Banking Regulations and Supervisory Practicesat the end of 1974 in the aftermath of the failure of BankhausHerstatt inWest Germany
It Constitutes of the central-bank Governors of the Group of TenCountries.
The first meeting took place in February 1975 and meetings have been held regularly three or four times a year since Most recenttook place in took place in Brussels in September 2009
In May 1983 the Committee finalised a document
Principles for theSupervision of Banks' Foreign Establishments
OBJECTIVES
The Committee does not possess any formal supranationalsupervisory authority
It formulates broad supervisory standards and guidelines andrecommends statements of best practice in the expectation thatindividual authorities will take steps to implement them throughdetailed arrangements ² statutory or otherwise ² which are bestsuited to their own national systems
Objective of the Committee's work has been to close gaps ininternational supervisory coverage in pursuit of two basicprinciples: that no foreign banking establishment should escapesupervision;and that supervision should be adequate.
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