BANKING AFFAIRS

Detailed explanation-1: -The Basel Committee on Banking Supervision (BCBS) 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 to enhance financial stability.

Detailed explanation-2: -The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters. Its 45 members comprise central banks and bank supervisors from 28 jurisdictions.

Detailed explanation-3: -The Committee, headquartered at the Bank for International Settlements in Basel, was established to enhance financial stability by improving the quality of banking supervision worldwide, and to serve as a forum for regular cooperation between its member countries on banking supervisory matters.

Detailed explanation-4: -Switzerland has been a member of the Basel Committee on Banking Supervision since it was established in 1974. The Basel Committee on Banking Supervision ( BCBS ) was founded in Basel at the end of 1974 and is located at the Bank for International Settlements ( BIS ).

Detailed explanation-5: -In addition to the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) also supervise financial institutions.