The function of the Committee is to provide a forum for regular cooperation by members on banking supervisory matters. In recent years, the Committee has largely evolved into a standard-setting body dealing with the full range of aspects of banking supervision. Not only does the Committee promote cooperation among G10 members, but also it develops and proposes international standards for implementation through national legislation.

According to the Basel Committee part of the website of the Bank for International Settlements, membership includes "senior officials responsible for banking supervision or financial stability issues in central banks, and authorities with formal responsibility for the prudential supervision of banking business where this is not the central bank."

Consensus

The Basel Committee on Banking Supervision conducted a preliminary study of the risk management implications of e-banking and e-money in 1998, which led to the formation of the Electronic Banking Group (EBG) in November 1999.