1. The Basle Committee on Banking Supervision is a Committee of banking supervisory authorities which was established by the central-bank Governors of the Group of Ten countries in 1975. It consists of senior representatives of bank supervisory authorities and central banks from Belgium, Canada, France, Germany, Italy, Japan, Luxembourg, Netherlands, Sweden, Switzerland, United Kingdom and the United States. it usually meets at the Bank for International Settlements in Basle, where its permanent Secretariat is located.
2 The risks covered by the proposed framework were: (a) the risks in the trading book of debt and equity instruments and related off-balance-sheet contracts and (b) foreign exchange risk.