Other Basel Committee initiatives Although the Basel Committee may be best known for its work on capital standards, its efforts extend well beyond that - as suggested by the two other pillars. Its development of the Core Principles for Effective Banking Supervision in 1997 is particularly noteworthy.
These twenty-five principles cover a broad range of supervisory issues involving licensing and supervising banks and enforcing supervisory judgments. By setting reasonable thresholds for standards that banking supervisors in all countries should achieve, the committee has substantially helped to promote financial stability worldwide.