Basel Convergence Agreement Definition
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An international agreement to implement common standards for funds that banks are required to have on hand to maintain adequate capital. The agreement is named for Basel, the city in Switzerland where the Bank of International Settlements (BIS) is located. The BIS essentially is a central bank for central banks and is involved in developing many rules and regulations to ensure the safety of the international banking system.
Webster's New World Finance
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Words Near Basel Convergence Agreement in the Dictionary
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- base level
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