Gabriela Victoria ANGHELACHE PhD (gabriela.anghelache@gmail.com)
Bucharest University of Economic Studies, Romania
György BODÓ PhD Student (gyorgy.bodo@yahoo.com)
Bucharest University of Economic Studies
Radu STOICA PhD Student (radustoica68@yahoo.com)
Bucharest University of Economic Studies
Abstract
The Basel Accords are the Basel Committee for Banking Supervision (BCSB) regulations. It was established in 1974 with the Bank of International Settlements (BIS). The name of the normative acts, the Basel Agreements, drawn up by them, comes from the fact that these institutions are based in Basel in Switzerland. BCSB aims to use the experience gained in banking activity to understand the main factors governing this activity, to synthesize and to harmonize good practice rules to reduce the risks associated with financial-banking activities and to improve the efficiency of supervision banking.
The Committee proposes that its work should serve the purpose of preventing, avoiding or at least limiting the effects of significant crises. It expresses its views through publications, exchange of information and approaches on the promotion of banking supervision standards, but also provides a common and coherent framework for the analysis of banking supervision elements and their unitary treatment. The last big financial crisis in 2008 proved the usefulness of adopting the provisions of the Basel Committee Agreement by most financial and banking institutions. Even if in many cases the recommendations were imposed by the banking supervisors in the respective countries and were not adopted voluntarily, they have made their effect, otherwise the effects of the crisis would have been more devastating.
Keywords: Basel, banking supervision, banking risk, financial crisis
JEL Classification: G21, G28
