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Basel Accord
True title In February 1975, the central banks of the ten western countries and 12 countries, including Switzerland and Luxembourg, established the Basel Committee on Banking Supervision, which was initiated by ().
A. World Bank
B. International Monetary Fund
C. Bank for International Settlements
D. European Bank for Reconstruction and Development
Answer C
Analysis of this topic examines the background and development of the Basel Accord. In order to safeguard the interests of member countries, strengthen supervision cooperation and unify supervision principles and standards, it was initiated by the Bank for International Settlements in February 1975. The ten western countries and the central banks of Switzerland and Luxembourg have established the Basel Committee on Banking Supervision (referred to as the Basel Committee for short). See the textbook P159.
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Background and development of the Basel Accord
In 1974, international banks in the United States, Britain, Germany and Argentina successively went bankrupt and defaulted on international loans. Among them, the cases of Hestad Bank in Germany and Franklin National Bank in the United States are the most shocking, which makes the regulatory authorities begin to comprehensively examine the banking supervision with extensive international business, which is the direct reason for the emergence of the Basel Accord. At the same time, with the internationalization of banks and financial markets, the risks of bank operations have crossed national boundaries. In the international banking industry, some banks with low capital ratios have greatly expanded their asset business, resulting in unfair competition. Under such circumstances, the supervision of international banking can't just depend on each country's own way, but must be coordinated internationally in financial supervision, which is the main reason why major western countries have concluded the Basel Accord.
In order to safeguard the interests of member countries, strengthen supervision cooperation and unify the principles and standards of supervision, in February 1975, initiated by the Bank for International Settlements, the central banks of the ten western countries and 12 Swiss and Luxembourg countries established the Basel Committee on Banking Supervision (hereinafter referred to as the Basel Committee).
Since its establishment, the Basel Committee has issued a series of important agreements reached by member countries of the Bank for International Settlements. There are mainly the 1975 Basel Accord, the revised Basel Accord in 1984, the 1988 Basel Report, the 1992 Basel Proposal, the 1997 Basel Core Principles, the 23 New Basel Capital Accord, and so on. These agreements are collectively referred to as Basel Accord. Basel Accord represents a kind of supervision thought and concept in the global scope, and it is constantly improved and deepened with the development of international financial supervision.
Basel accord is one of the conventions that have the greatest influence on the development of international banking. According to the analysis of the Bank for International Settlements, about 1 countries in the world have adopted the regulatory framework of the Basel Accord. It helps the banks in developed countries to compete on an equal footing, provides great convenience for the supervision and coordination of international banks, ensures the smooth operation of the international banking system in the international debt crisis and financial turmoil, and at the same time urges developing countries to supervise their own banks according to the Basel Accord and obtain an equal competitive position in international business activities.
in the Basel agreement, the most influential is the 1988 Basel report on unified capital supervision (also known as? The old Basel Capital Accord? ) 23 New Basel Capital Accord and 21 Basel Accord.