Basel Accords

The Basel Accords on banking regulation, also known as Basel I and Basel II, were issued by the Basel Committee on Banking Supervision in 1988 and 2004. They are called the Basel Accords as the Committee normally meets at the Bank for International Settlements (BIS) in Basel, Switzerland. Basel I focused mainly on credit risk and became legally enforceable in G10 countries in 1992. Its principles have since been adopted by most countries. Basel II set standards on the amount and use of capital that banks require in order to deal with the various risks they face.

See also: http://www.bis.org/publ/bcbsca.htm