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.
Basel Convergence Agreement - Investment & Finance Definition
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
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