Basel Committee Announces Comprehensive Response to Banking Crisis

The Group of Central Bank Governors and Heads of Supervision, the oversight body of the Basel Committee on Banking Supervision, has reviewed a comprehensive set of measures to strengthen the regulation, supervision and risk management of the banking sector. These measures will substantially reduce the probability and severity of economic and financial stress.

President Jean-Claude Trichet, who chairs the group, said: “The agreements reached today among 27 major countries of the world are essential as they set the new standards for banking regulation and supervision at the global level.”


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