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Part I The Elements of Bank Financial Supervision, 3 Basel and International Bank Regulation

From: International Regulation of Banking: Capital and Risk Requirements (2nd Edition)

Simon Gleeson

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From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 25 September 2020

Regulation of banks — Basel 2
3.01 A historic approach to bank regulation is of little use or relevance, but it may be helpful to say a few words about the Basel committee, and how it has come about that an organization with no powers, constitution, or even legal existence has come to be the dominant power in bank regulation. 3.02 As the financial markets internationalized in the 1970s, it became increasingly clear to supervisors that some form of co-operation would be needed between them in order to supervise the larger banks. The failure of Bankhaus Herstatt in 1974—a failure of a German...
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