Definition of Basel Committee

Made up of central bankers and regulators from 27 countries it lays down global rules for bank governance. Regulators around the world look to Basel for guidance on key issues, such as how much capital banks have to hold, relative to their loan and investment books.

The US, long resistant to Basel's rules, has agreed to follow the framework by 2011.  [1]

Q & A: Global body lays down the rules over governance