Basel Committee on Banking Supervision: A Primer on Governance, History, and Legitimacy -- Part I

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. Maziar Peihani investigates the BCBS’s governance, operation, and policy outcomes to dete...