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The Basel Committee on Banking Supervision
A History of the Early Years 1974–1997

$162.00

Nout Wellink
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  • Date Published: October 2011
  • availability: Available
  • format: Hardback
  • isbn: 9781107007239

$162.00
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  • The Basel Committee on Banking Supervision (BCBS) sets the guidelines for world-wide regulation of banks. It is the forum for agreeing international regulation on the conduct of banking. Based on special access to the archives of the BCBS and interviews with many of its key players, this book tells the story of the early years of the Committee from its foundation in 1974/5 right through until 1997 – the year that marks the watershed between the Basel I Accord on Capital Adequacy and the start of work on Basel II. In addition, the book covers the Concordat, the Market Risk Amendment, the Core Principles of Banking and all other facets of the work of the BCBS. While the book is primarily a record of the history of the BCBS, it also provides an assessment of its actions and efficacy. It is a major contribution to the historical record on banking supervision.

    • A unique and authoritative study of the history of international financial regulation up to 1997 based on access to both the archives of the Basel Committee and many of the protagonists
    • Allows readers to understand how financial regulation has developed by throwing additional light on key aspects, including its comparative successes and failures
    • Provides both a record of events, reproducing many key documents, and an assessment of the efficacy of the Basel Committee
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    Reviews & endorsements

    "Mr Goodhart has produced an in-depth and comprehensive narrative on the history of the world’s banking regulator. A compelling account in its own right, his description of the evolution of the Basel standards is as relevant as ever as policymakers contemplate sound responses to the recent crisis." - Jaime Caruana, General Manager, Bank for International Settlements

    "Since the progressive lifting of exchange controls in 1970s and 1980s, few international financial institutions have mattered more than the Basel Supervisors Committee. There could be no one better to chart its history than Charles Goodhart – economist of money and banking, policymaker, and friend and colleague of many of the key protagonists. The highs and lows are all brought out, including how ideas sometimes get given too much or not nearly enough weight. This is a 'must-read' for anyone who wants to grasp how international finance policy gets made in the real world." - Paul Tucker, Deputy Governor, Financial Stability, Bank of England

    "Charles Goodhart is unique in combining sound economic analysis with understanding of the practical, political and organizational pressures bearing on financial policy making. His history of the early years of the Basel Committee, culminating in international agreement on bank capital standards, is a case in point. It casts light on the obstacles faced by the negotiators of new international standards, for capital, derivatives and other elements of international financial reform." - Paul A. Volcker, Chairman of the President’s Economic Recovery Advisory Board, 2009-2011

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    Product details

    • Date Published: October 2011
    • format: Hardback
    • isbn: 9781107007239
    • length: 618 pages
    • dimensions: 235 x 160 x 31 mm
    • weight: 1.09kg
    • contains: 36 b/w illus. 35 tables
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    Foreword Nout Wellink
    Background and acknowledgments
    1. Introduction
    2. The antecedents of the BCBS
    3. Modus operandi: chairmen, secretariat, members, the structure of meetings
    4. The Concordat
    5. External and foreign exchange issues
    6. Capital adequacy and the Basel Accord of 1988
    7. The Market Risk Amendment
    8. The core principles of banking supervision
    9. Liquidity
    10. Off balance sheet exposures and derivatives
    11. Other topics addressed by the BCBS
    12. The relationship of the BCBS with banks and other banking regulators
    13. Relationships with other non-bank oversight and supervisory bodies
    14. The legal position of the BCBS
    15. The international relations of the BCBS
    16. BCBS and the social sciences
    17. Epilogue
    Index.

  • Author

    Charles Goodhart, London School of Economics and Political Science
    Charles Goodhart CBE, FBA is Emeritus Professor of Banking and Finance and a member of the Financial Markets Group at the London School of Economics and Political Science, having previously served as the group's Deputy Director from 1987 to 2005. From 1985 until his retirement in 2002, he was the Norman Sosnow Professor of Banking and Finance at the LSE. Before moving into academia he worked at the Bank of England for seventeen years as a monetary advisor, becoming a chief advisor in 1980.

    Contributors

    Nout Wellink

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