scholarly journals Basel Committee on Banking Supervision

2016 ◽  
Vol 1 (1) ◽  
pp. 1-87 ◽  
Author(s):  
Maziar Peihani
Keyword(s):  
Global Governance ◽  
Policy Outcomes ◽  
Banking Supervision ◽  
Member States ◽  
Informal Group ◽  
Basel Committee ◽  
Global Banking ◽  
Standards And Guidelines ◽  
Central Bankers

The Basel Committee on Banking Supervision (bcbs) was established in 1974 as an informal group of central bankers and bank supervisors with the mandate to formulate supervisory standards and guidelines. Although the Committee does not have any formal supranational authority, it is the de facto global banking regulator and its recommendations have been widely implemented by member and non-member states. This project investigates the bcbs’s governance, operation, and policy outcomes to determine the extent to which it is and has been legitimate. The project is comprised of two parts. This part overviews the literature on the bcbs, outlines its contribution, and provides a primer on the Committee’s governance and functions. In addition, it engages with the current theories on legitimacy and discusses what legitimacy means for the global governance of banking and how it can be assessed.

scholarly journals Basel Committee on Banking Supervision

2016 ◽  
Vol 1 (2) ◽  
pp. 1-66 ◽  
Author(s):  
Maziar Peihani
Keyword(s):  
Decision Making ◽  
Global Governance ◽  
Policy Outcomes ◽  
Banking Supervision ◽  
Basel Committee ◽  
Transparency And Accountability

Part 1 of this project overviewed the literature on the Basel Committee of Banking Supervision (bcbs) and provided a primer on the Committee’s governance and functions. It also engaged with the current theories on legitimacy and discussed what legitimacy meant for the global governance of banking and how it could be assessed. This part investigates the bcbs’s governance, operation, and policy outcomes to determine the extent to which it is and has been legitimate. The assessment is conducted based on three principles of reasoned decision making, transparency, and accountability. I argue that the bcbs has gradually become a more legitimate institution but there still exists significant room for improvement. I highlight a number of areas for reform and set out policy prescriptions to enhance the bcbs’s legitimacy.

scholarly journals Implementation of the Basel III and its effect on Bahrain’s banking sector.

2017 ◽  
Vol 15 (1) ◽  
pp. 224-234
Author(s):  
Maryam Abdulla Althawadi ◽  
Gagan Kukreja
Keyword(s):  
Banking Sector ◽  
Capital Requirements ◽  
Basel Iii ◽  
Financial Health ◽  
Banking Supervision ◽  
Complete Protection ◽  
Basel Committee ◽  
Banking Regulations ◽  
Global Banking ◽  
Research Findings

The financial crisis which occurred in 2007 and 2008 has had a major impact on the global banking industry. As a result, many banks went bankrupt or the governments had bailed them out. Thus, to protect banks against such a situation, the Basel Committee on Banking Supervision (BCBS) had scrutinized and altered the banking regulations, termed as the Basel III. The purpose of this study is to analyse the Basel III paradigm and its impact on the banks’ financial health of Bahrain. This kind of study will enhance the understanding of Basel III and its impact on banking sector for researchers of GCC in general and Bahrain in particular. The approach of the study is qualitative, whereas the theoretical framework has been used in the literature review. The empirical results were acquired from the interviews of various personnel from banks in Bahrain to gauge their perspective on Basel III paradigm. The overall perspectives of the banking personnel about Basel III were that it should have more stringent requirements. In this case, the capital requirements are considered to be too low and the risk weights are too unrealistic. However, majority of the banking personnel are still optimistic that Basel III does grant superior protection, but it doesn’t provide complete protection against the chance of failure. According to the research findings, majority of respondents were optimistic and feel that it does help in protecting the banks, while others consider it completely useless and failed to prevent failures.

MONETARY POLICY AND FINANCIAL INTERMEDIATION IN BASEL III: GLOBAL TRENDS

2019 ◽  
Vol 4 (3) ◽  
pp. 39-47
Author(s):  
Larysa BATIUK
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Federal Reserve ◽  
Global Economy ◽  
Financial Intermediation ◽  
Macroeconomic Fluctuations ◽  
Basel Iii ◽  
Banking Supervision ◽  
Basel Committee ◽  
Real Wealth

Introduction. The article deals with the peculiarities of the transmission mechanism of monetary policy in the implementation conditions of the Basel Committee requirements on Banking Supervision "Basel III". The problem of the mechanism violation of the classical monetary multiplier, the imbalance of the monetary circulation system, the frequency increase of debt defaults and the amplitude of macroeconomic fluctuations in the global economic system are marked as a study result of the effects of the credit mitigation policy conducted by the US Federal Reserve amid the global financial crises of the last decade and changes in the nature of financial intermediation based on the synthesis of asset securitization and structured finance instruments. The purpose of this article is to investigate changes in monetary policy and financial intermediation in the implementation context of the Basel Committee on Banking Supervision Basel III as a source of imbalance in the global economy. Research methodology. The system method, method of scientific abstraction, methods of analysis and synthesis, statistical, comparison, generalization, scientific prediction were used. Results. The article deals with the implications of implementing the Basel Committee on Banking Supervision Basel I and Basel II in the area of monetary policy and financial intermediation; peculiarities of monetary multiplier mechanism operation in modern conditions are revealed; the possible consequences of implementing Basel III requirements for the mechanism of monetary supply formation in the world economy are analysed; the change in the role of gold as monetary metal in central bank foreign exchange reserves and the implications of these changes in terms of price dynamics and the distribution of real wealth in the global economy are examined. Conclusions. It is proposed to consider the requirements of the Basel Committee on Banking Supervision "Basel III" as such, which will exacerbate the volatility of global financial markets, increase the likelihood of increasing the frequency of debt defaults and, given the possibility of using gold as a means of redistribution of real wealth in the global economy, will cause an increase in the amplitude of macroeconomic fluctuations. Keywords: monetary policy; financial intermediation; the central bank; US Federal Reserve; Basel III; bank capital structure, monetary base; money multiplier, correspondent accounts; money supply; monetary gold; global economy.

Transnational Criminal Law: A Field in the Making

2021 ◽  
pp. 178-202
Author(s):  
Prabha Kotiswaran ◽  
Nicola Palmer
Keyword(s):  
Human Trafficking ◽  
Intellectual Property Rights ◽  
Money Laundering ◽  
Global Governance ◽  
Criminal Law ◽  
Legal Theory ◽  
Full Range ◽  
Current Phase ◽  
Global Banking ◽  
The Rich

Twenty years into the current phase of globalization, a new field of transnational criminal law is in the making, expanding to cover issues as diverse as money laundering, counterterrorism, global banking, human trafficking, infringements of intellectual property rights, and cybercrime. The chapter introduces the concept of transnational criminal law (TCL) and deliberates on the dilemmas of TCL as applied to empirical legal phenomena before suggesting a sociolegal approach to further develop the field of TCL. In particular, the chapter brings to bear on TCL the rich debates within global governance and transnational legal theory. The chapter does this by decentering formal state law and examining the full range of technologies of governance, that nonstate actors increasingly propose in order to address transnational social problems.

scholarly journals Bank Stability Measures in Dual Banking System: A Critical Review

2019 ◽  
Vol 5 (2) ◽  
pp. 59
Author(s):  
Norzitah Abdul Karim ◽  
Amirul Afiff Muhamat ◽  
Azreen Roslan ◽  
Sharifah Faigah Syed Alwi ◽  
Mohamad Nizam Jaafar
Keyword(s):  
Global Financial Crisis ◽  
Financial Institution ◽  
Banking System ◽  
Banking Supervision ◽  
Basel Committee ◽  
System A ◽  
Overall Stability ◽  
Regulatory Bodies ◽  
Banking Stability ◽  
Definition Of

The 2007-2009 Global Financial Crisis showed that despite reported as ‘healthy’ financial institution prior to crisis had indeed suffered many problems including liquidity during the crisis. Thus, there is confusion on the healthy financial institutions, leading to loss of confidence on the overall stability of the banking system. Thus, there is an urgent need to review the current measures of financial as well as banking stability. This paper aims to look at the definition of ‘stability’ used in the academic researches and by different regulatory bodies, like International Monetary Fund, Basel Committee for Banking Supervision (BCBS) and central banks in selected countries with dual banking systems. It is then, critically review indicators used as measures of financial as well as banking stability. This review is hope to identify areas of strengths as well as weaknesses of the current measures of stability and serves as foundation for further research in future.

Part II The Financial Crisis of 2007–2011, 9 The Initial Response to the Financial Crisis by the EU and Elsewhere

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Financial Stability ◽  
Financial Regulation ◽  
Initial Response ◽  
Banking Supervision ◽  
Basel Committee ◽  
Regulation And Supervision ◽  
European Financial Regulation ◽  
The Eu

This chapter discusses the various laws, regulations, and comparable measures that were passed or proposed in response to the financial crisis in the EU and elsewhere. It covers the responses of the de Larosière Report, G20, the Basel Committee on Banking Supervision, and the Financial Stability Board. The de Larosière Report, for instance, was commissioned by the President of the European Commission in October 2008 and delivered on 25 February 2009. The report sought ‘to give advice on the future of European financial regulation and supervision’ and has formed the basis of many of the responses to the financial crisis at EU level. The G20 issued a comprehensive communiqué on the crisis at the London ‘Summit’ of 2 April 2009, covering a number of macro-economic and other ‘architectural’ issues.

Governance of the Global Financial System: The Legitimacy of the BCBS 10 years after the 2008 Crisis

2019 ◽  
Vol 22 (2) ◽  
pp. 247-260
Author(s):  
Jose Gustavo Prieto Muñoz
Keyword(s):  
Financial Stability ◽  
International System ◽  
Financial System ◽  
Public Law ◽  
Social Rights ◽  
Banking Supervision ◽  
The Public ◽  
Basel Committee ◽  
External Dimension ◽  
Global Financial System

ABSTRACT This article explores the question of legitimacy that underpins Basel III. First, I present a general framework for assessing how legitimacy operates within the global financial system through an analysis of the internal and external dimensions. I next address the internal dimension, exploring the legitimacy of the Basel Committee on Banking Supervision (BCBS) as a body that exercises a type of public authority through the generation of norms/standards. I then analyse how the public law standards of transparency and accountability are currently being implemented within the BCBS system. Finally, I examine the external dimension, considering how the legitimacy of the BCBS is related to the international system. In particular, it is argued that because of the direct link between bailouts and human rights violations, the legitimacy of the BCBS is also tied to its role in promoting financial stability in the post-crisis architecture by protecting social rights within states.

scholarly journals The global governance of antimicrobial resistance: a cross-country study of alignment between the global action plan and national action plans

2020 ◽  
Vol 16 (1) ◽  
Author(s):  
Louise Munkholm ◽  
Olivier Rubin
Keyword(s):  
Antimicrobial Resistance ◽  
Global Governance ◽  
Action Plan ◽  
World Health ◽  
Action Plans ◽  
Vertical Alignment ◽  
Member States ◽  
Horizontal Alignment ◽  
Global Action ◽  
Global Action Plan

Abstract Background Antimicrobial resistance (AMR) is a growing problem worldwide in need of global coordinated action. With the endorsement of the Global Action Plan (GAP) on AMR in 2015, the 194 member states of the World Health Organization committed to integrating the five objectives and corresponding actions of the GAP into national action plans (NAPs) on AMR. The article analyzes patterns of alignment between existing NAPs and the GAP, bringing to the fore new methodologies for exploring the relationship between globally driven health policies and activities at the national level, taking income, geography and governance factors into account. Methods The article investigates the global governance of AMR. Concretely, two proxies are devised to measure vertical and horizontal alignment between the GAP and existing NAPs: (i) a syntactic indicator measuring the degree of verbatim overlap between the GAP and the NAPs; and (ii) a content indicator measuring the extent to which the objectives and corresponding actions outlined in the GAP are addressed in the NAPs. Vertical alignment is measured by the extent to which each NAP overlaps with the GAP. Horizontal alignment is explored by measuring the degree to which NAPs overlap with other NAPs across regions and income groups. In addition, NAP implementation is explored using the Global Database for Antimicrobial Resistance Country Self-Assessment. Findings We find strong evidence of vertical alignment, particularly among low-income countries and lower-middle-income countries but weaker evidence of horizontal alignment within regions. In general, we find the NAPs in our sample to be mostly aligned with the GAP’s five overarching objectives while only moderately aligned with the recommended corresponding actions. Furthermore, we see several cases of what can be termed ‘isomorphic mimicry’, characterized by strong alignment in the policies outlined but much lower levels of alignment in terms of actual implemented policies. Conclusion To strengthen the alignment of national AMR policies, we recommend global governance initiatives based on individualized responsibilities some of which should be legally binding. Our study provides limited evidence of horizontal alignment within regions, which implies that regional governance institutions (e.g., WHO regional offices) should primarily act as mediators between global and local demands to strengthen a global governance regime that minimizes policy fragmentation and mimicry behavior across member states.

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