What does Basel Committee on Banking Supervision mean?

Basel Committee on Banking Supervision meaning in Insurance Dictionary

A commission established in 1988 to develop a risk-based standard the amount of money held by banks. The first formula requires financial institutions to hold 8 per cent of money against credit threat on a weighted foundation with completely of weighting (the complete 8 percent) for the majority of loans. The commission is headquartered in Switzerland and is consists of associates from lender supervisory authorities and central finance companies from European countries, Scandinavia, the uk, together with United States.