Basel Committee groups
The BCBS's permanent internal structure is made up of five groups: the Policy Development Group, the Supervision and Implementation Group, the Macroprudential Supervision Group, the Accounting Experts Group and the Basel Consultative Group. Within each group are working groups, which support specified technical work, and task forces, which undertake specific tasks for a limited time. High-level task forces may also be created to support broader goals outside the Committee groups' primary activities.
The Policy Development Group (PDG) develops policies that promote a sound banking system and high supervisory standards. Due to its broad mandate, the PDG has in place a number of specialised working groups and task forces.
Chair: Carolyn Rogers, Secretary General of the Basel Committee
PDG working groups / task forces
Name | Purpose |
Working Group on Capital | Assesses issues associated with the definition of regulatory capital |
Credit Risk Group | Assesses issues with the credit risk regulatory framework. Reports to the PDG and SIG |
Market Risk Group | Assesses issues with the market risk regulatory framework. Reports to the PDG and SIG |
Ratings and Securitisation Workstream | Reviews the regulatory framework for securitisation exposures |
Leverage Ratio Working Group | Responsible for the technical work associated with the Basel III leverage ratio |
Working Group on Liquidity | Assesses issues related to the liquidity framework |
Large Exposures Working Group | Responsible for the Committee's large exposures framework |
Working Group on Disclosure | Responsible for ensuring that disclosure initiatives for Pillar 3 are coordinated and consistent |
QIS Working Group | Monitors the evolution of capital requirements during the transition to Basel III and over the long term |
Task Force on Expected Loss Provisioning | Addresses issues related to the regulatory treatment of provisioning. Reports to the PDG and AEG |
Research Task Force | Acts as a forum for economists to engage in research projects on supervisory and financial stability issues, and as a liaison with the academic sector |
Operational Resilience Working Group | Assesses issues related to cyber-risk and broader operational resilience. Reports to the PDG and SIG |
The Supervision and Implementation Group (SIG) has two primary objectives: (i) to foster the timely, consistent and effective implementation of the Basel Committee's standards and guidelines; and (ii) to advance improvements in banking supervision, particularly across Basel Committee members. The SIG is also responsible for monitoring the implementation of the Basel III framework among its member jurisdictions. It does this through Regulatory Consistency Assessment Programme (RCAP).
Chair: Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA)
SIG working groups / task forces
Name | Purpose |
Working Group on Supervisory Colleges | Develops guidance to enhance the effectiveness of supervisory colleges and assists supervisors in putting the guidance into practice |
Pillar 2 Working Group | Acts as a forum for exchanging ideas and good practices related to the implementation of the Pillar 2 of the Basel capital framework |
Working Group on Stress Testing | Reviews developments in bank and supervisory stress testing programmes and, as needed, develops further guidance to enhance these programmes |
Task Force on Financial Technology | Assesses the risks and supervisory challenges associated with the innovation and technological changes affecting banking |
Risk Data Network | Supports the SIG to foster sound and consistent implementation of the Basel Committee's Principles for effective risk data aggregation and risk reporting |
Operational Resilience Working Group | Assesses issues related to cyber-risk and broader operational resilience. Reports to the PDG and SIG |
Credit Risk Group | Assesses issues with the credit risk regulatory framework. Reports to the PDG and SIG |
Market Risk Group | Assesses issues with the market risk regulatory framework. Reports to the PDG and SIG |
The Basel Consultative Group (BCG) provides a forum for deepening the Committee's engagement with supervisors around the world on banking supervisory issues. It facilitates broad supervisory dialogue with non-member countries on new Committee initiatives early in the process by gathering senior representatives from various countries, international institutions and regional groups of banking supervisors that are not members of the Committee.
Co-chair: Kuben Naidoo, South African Reserve Bank
Co-chair: Bryan Stirewalt, Dubai Financial Services Authority
BCG membership comprises central banks and supervisory authorities from 28 countries, as well as supervisory groups, international agencies and other bodies.
Institutions represented on the Basel Consultative Group
Countries | |
Argentina | Banco Central de la República Argentina (BCRA) |
Armenia | Central Bank of Armenia |
Austria | Austrian Financial Market Authority |
Azerbaijan | Financial Market Supervision Authority |
Canada | Office of the Superintendent of Financial Institutions |
Chile | Financial Markets Commission |
China | China Banking and Insurance Regulatory Commission |
Colombia | Unit of Financial Regulation |
Croatia | Croatian National Bank |
Czech Republic | Czech National Bank |
Denmark | Danish Financial Supervisory Authority |
France | French Prudential Supervision and Resolution Authority (ACPR) |
Georgia | National Bank of Georgia |
Germany | Federal Financial Supervisory Authority (BaFin) |
Ghana | Bank of Ghana |
Hungary | Central Bank of Hungary |
Japan | Bank of Japan Financial Services Agency |
Kazakhstan | National Bank of Kazakhstan |
Lebanon | Lebanese Banking Control Commission |
Malaysia | Central Bank of Malaysia |
Mauritius | Bank of Mauritius |
Mexico | Comisión Nacional Bancaria y de Valores |
Netherlands | Nederlands Bank |
New Zealand | Reserve Bank of New Zealand |
Nigeria | Central Bank of Nigeria |
Norway | The Financial Supervisory Authority of Norway |
Peru | Superintendencia de Banca Seguros y AFP |
Philippines | Central Bank of the Philippines |
Poland | Polish Financial Supervision Authority |
Qatar | Qatar Financial Centre Regulatory Authority |
Russia | Central Bank of the Russian Federation |
Saudi Arabia | Saudi Central Bank |
Spain | Bank of Spain |
Switzerland | Swiss Financial Market Supervisory Authority |
Thailand | Bank of Thailand |
Tunisia | Central Bank of Tunisia |
Ukraine | National Bank of Ukraine |
United Arab Emirates | Dubai Financial Services Authority Financial Services Regulatory Authority Abu Dhabi Global Market |
United States of America | Board of Governors of the Federal Reserve System |
Supervisory groups, international agencies and other bodies | |
Arab Committee of Banking Supervisors | |
Association of African Central Banks | |
Association of Supervisors of Banks of the Americas | |
Caribbean Group of Banking Supervisors | |
Central Bank of West African States | |
Executives' Meeting of East Asia Pacific Working Group on Banking Supervision (EMEAP) | |
Financial Stability Institute, Bank for International Settlements | |
Group of Banking Supervisors from Central and Eastern Europe | |
Group of International Finance Centre Supervisors | |
Gulf Cooperation Council Committee of Banking Supervisors | |
International Monetary Fund | |
Islamic Financial Services Board | |
World Bank | |
Secretariat | |
Bank for International Settlements |
The Macroprudential Supervision Group (MPG) monitors systemic risk and global developments that relate to macroprudential and systemically important bank (SIB) supervision. It also provides guidance to other groups working on issues related to macroprudential/SIB supervision, and develops specific policy proposals, as needed, to fill gaps, address inconsistencies or tackle unintended consequences in the overall framework of macroprudential/SIB supervision.
Co-chair: Dianne Dobbeck, Federal Reserve Board of New York
Co-chair: Sergio Nicoletti-Altimari, ECB
The Accounting Experts Group (AEG) helps ensure high quality international accounting standards and practices. The AEG's work also supports that implementation fosters a common international interpretation and harmonized application of those standards and practices, contributes to sound risk management at banks, and enhances market discipline. The AEG helps ensure high quality audit and ethics standards and practices for auditors, with the aim of ensuring high quality bank audits and regular communication of useful information between banking supervisory authorities and audit firms.
Regarding the development of international accounting standards, the Committee and the IFRS Foundation have in place a Memorandum of Understanding ("MoU"). The MoU formalises the mutual interaction between the Committee and the Foundation at both the strategic and working levels, while respecting the independence of each organisation in form and substance.
Chair: Fernando Vargas, Associate Director General for the Bank of Spain and Director of the Regulation and Supervisory Policy Department
AEG working groups / task forces
Name | Purpose |
Audit Subgroup | Promotes reliable financial information by exploring key audit issues from a banking supervision perspective; responds to international audit standard-setting proposals, other issuances of the International Auditing and Assurance Standards Board and the International Ethics Standards Board for Accountants, and audit quality issues. |