Although the work of that committee has focused on banks in G10 countries, the supervisory principles and sound banking practices that it has identified have helped to strengthen bank supervision around the globe. Development of the “Core Principles for Effective Banking Supervision”, is a prime example of those efforts.
The creation of the Financial Stability Institute, under the joint sponsorship of the Bank for International Settlements and the Basel Committee on Banking Supervision, is another and represents an important effort to help developing countries train their supervisory staff.