1. The Basel Framework is the full set of standards of the BCBS. The membership of the BCBS has agreed to fully implement these standards and apply them to the internationally active banks in their jurisdiction.¹ For other banks, BCBS members may adopt a proportional approach to implementing specific rules and principles under the given standard.
2. Guidelines elaborate the standards in areas where they are considered desirable for the prudential regulation and supervision of banks, in particular internationally active banks. They generally supplement BCBS standards by providing additional guidance for the purpose of their implementation.
3. Sound practices generally describe actual observed practices, with the goal of promoting common understanding and improving supervisory or banking practices. BCBS members are encouraged to compare these practices with those applied by themselves and their supervised institutions to identify potential areas for improvement.
4. The BCBS also publishes various other documents, including implementation reports and newsletters. These documents do not constitute standards, guidelines or sound practices.
5. The Committee's standards (ie those set out in the Basel Framework) are subject to monitoring and assessment of their adoption by jurisdictions through the Regulatory Consistency Assessment Programme (RCAP). The Basel Core Principles are used in assessing the effectiveness of countries' regulatory and supervisory regimes, generally under the Financial Sector Assessment Program (FSAP). Guidelines, sound practices and other publications are not subject to RCAPs or FSAPs.
6. The Committee periodically reviews its guidelines and sound practices as standards, supervisory practices and the financial system evolve. The consolidated guidelines and sound practices are intended to be a living document, which will be updated when the Committee publishes new materials.
7. Unless otherwise indicated, the guidelines have been developed with a view towards application to: (i) large, internationally active banks; and (ii) supervisory and other relevant financial authorities in Basel Committee member jurisdictions. However, smaller banks and authorities in all jurisdictions may benefit from considering the guidelines and applying them on a proportionate basis, depending on the size, complexity and risk profile of the bank or banking sector for which the authority is responsible.

¹ The Core Principles for effective banking supervision (Basel Core Principles) are also a standard and form part of the Basel Framework but are applicable to all jurisdictions and all banks.