BISness
The Basel Committee at 50
May 3, 2024
Listen to Chair Pablo Hernández de Cos and Secretary General Neil Esho discuss the Basel Committee's 50-year journey, including global regulatory standards, adapting to new risks like technology and climate change. They also explore the impact of technology on banking regulation, the importance of global cooperation, and upcoming challenges like cyber risks and climate-related risks.
23:40
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Quick takeaways
- The Basel Committee evolved post-2007 crisis towards implementing Basel III standards, prioritizing global financial stability over individual interests.
- The International Conference of Banking Supervisors addressed challenges like non-traditional risks and stressed the importance of balancing risk-taking with vigilance for emerging risks.
Deep dives
Achievements of the Basel Committee
The Basel Committee on Banking and Supervision, celebrating its 50th anniversary, established global banking standards and served as a forum for cooperation to enhance financial stability. The Committee's focus expanded post-2007 financial crisis towards implementing Basel III standards and enhancing banking supervision. Despite challenges like resistance to Basel III, the Committee prioritizes a global perspective over individual interests, aiming for financial stability.
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