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    "Soft Law" and The Bank For International Settlements

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    Ashish Sharma
    The document discusses the role of the Bank for International Settlements (BIS) in fostering international cooperation among central banks. It notes that the BIS hosts several committees that develop standards and guidelines in areas like banking supervision. In particular, it summarizes the work of the Basel Committee on Banking Supervision, which has developed important standards like the Core Principles for Effective Banking Supervision and the Basel II Framework. Finally, it describes how the BIS implements "soft law" standards through its own governance, risk management, and compliance functions.

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    "Soft Law" and The Bank For International Settlements

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    Ashish Sharma
    40 views5 pages
    The document discusses the role of the Bank for International Settlements (BIS) in fostering international cooperation among central banks. It notes that the BIS hosts several committees that develop standards and guidelines in areas like banking supervision. In particular, it summarizes the work of the Basel Committee on Banking Supervision, which has developed important standards like the Core Principles for Effective Banking Supervision and the Basel II Framework. Finally, it describes how the BIS implements "soft law" standards through its own governance, risk management, and compliance functions.

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    viii_daniel_lefort

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    The document discusses the role of the Bank for International Settlements (BIS) in fostering international cooperation among central banks. It notes that the BIS hosts several committees that develop standards and guidelines in areas like banking supervision. In particular, it summarizes the work of the Basel Committee on Banking Supervision, which has developed important standards like the Core Principles for Effective Banking Supervision and the Basel II Framework. Finally, it describes how the BIS implements "soft law" standards through its own governance, risk management, and compliance functions.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    40 views5 pages

    "Soft Law" and The Bank For International Settlements

    Uploaded by

    Ashish Sharma
    The document discusses the role of the Bank for International Settlements (BIS) in fostering international cooperation among central banks. It notes that the BIS hosts several committees that develop standards and guidelines in areas like banking supervision. In particular, it summarizes the work of the Basel Committee on Banking Supervision, which has developed important standards like the Core Principles for Effective Banking Supervision and the Basel II Framework. Finally, it describes how the BIS implements "soft law" standards through its own governance, risk management, and compliance functions.

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    of 5

    09.08.

    2007

    VIII Meeting of Central Bank Legal Advisers


    Madrid
    27 29 J
    27-29 June 2007

    “Soft law” and the Bank for International


    Settlements

    Daniel Lefort
    General Counsel
    Bank for International Settlements

    Presentation outline

    1. Introduction

    2. About the BIS

    3. Fostering monetary and financial co-operation

    4. The Basel Committee on Banking Supervision

    5. Implementation of “soft law” at the BIS

    6. Conclusion

    1
    09.08.2007

    The BIS

    z Oldest International Financial Institution (1930)

    z Owned entirely by central banks (55 members)

    z Board of Directors of 15 members

    z Headquarters in Basel with representative offices in Hong


    Kong and Mexico City

    BIS mandate

    z Forum for discussion and cooperation among central


    banks and the financial community

    z Centre for monetary and economic research

    z Prime counterparty for central banks in their financial


    transactions

    z Agent or trustee in connection with international financial


    operations

    2
    09.08.2007

    Role of BIS in fostering international financial


    and monetary co-operation

    z Meetings of central bank governors and experts

    z Research and analysis of interest to central banks and


    financial supervisory authorities

    z Financial Stability Institute

    z Standard-setting role

    Financial Stability Institute

    z Joint venture created in 1999 by BIS and BCBS

    z Role of promoting dissemination and implementation of


    international financial standards and sound supervisory
    practices

    z Organisation of seminars and conferences

    z “FSI Connect” web-based training tool

    3
    09.08.2007

    Standard-setting role of committees and


    groups hosted by the BIS

    z G10 Committees
    • Basel Committee on Banking Supervision
    • Committee on the Global Financial System
    • Committee on Payment and Settlement Systems
    • Markets Committee

    z
    •

    4
    09.08.2007

    The Basel Committee on Banking Supervision


    (BCBS)

    z Committee objective of enhancing understanding of key


    supervisory issues and improving quality of banking
    supervision worldwide

    z Development by Committee of supervisory standards and


    guidelines
    g
    • Core Principles for Effective Banking Supervision
    • Basel II Framework

    z Standards and guidelines on other topics


    9

    Implementation of “soft law” at the BIS

    z Implementation of standards relevant to the Bank

    z Review of the governance of the BIS

    z Development of the BIS risk management policy

    z Establishment of an internal compliance function

    10

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