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Consider the following statements regarding Basel Committee on Banking Supervision (BCBS):
It was established by the Organisation for Economic Co-operation and Development (OECD).
It identifies current or emerging risks for the global financial system.
The decisions of BCBS do not have legal force.
Which of the above statements is/are correct?
- a)1 only
- b)2 and 3 only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding Basel Committee on Bankin...
- BCBS was established by the central bank Governors of the Group of Ten countries at the end of 1974 in the aftermath of serious disturbances in international currency and banking markets.
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- Basel Committee on Banking Supervision (BCBS) BCBS is the primary global standard setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters. The Basel Committee was initially named the Committee on Banking Regulations and Supervisory Practices.
- It was established by the central bank Governors of the Group of Ten countries at the end of 1974 in the aftermath of serious disturbances in international currency and banking markets. It is headquartered at the Bank for International Settlements in Basel. It has 45 members who comprise central banks and bank supervisors from 28 jurisdictions.
- The committee well known as Basil Committee is the ultimate decision-making body of the BCBS with responsibility for ensuring that its mandate is achieved. The Committee's first meeting took place in February 1975, and meetings have been held regularly three or four times a year since.
- The Committee has established a series of international standards for bank regulation, most notably its landmark publications of the accords on capital adequacy which are commonly known as Basel I, Basel II and Basel III. The BCBS does not possess any formal supranational authority. Its decisions do not have legal force.
- To strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability.
- To identify current or emerging risks for the global financial system.
- To promote common understanding and to improve cross-border cooperation by sharing supervisory issues, approaches and techniques.
- To establish and promote global standards for the regulation and supervision of banks as well as guidelines.
- To monitor the implementation of BCBS standards in member countries.
- To coordinate and cooperate with other financial sector standard setters and international bodies, particularly those involved in promoting financial stability.
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Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Basel Committee on Banking Supervision (BCBS): It was established by the Organisation for Economic Co-operation and Development (OECD). It identifies current or emerging risks for the global financial system. The decisions of BCBS do not have legal force. Which of the above statements is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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