From Open Risk Manual


BCBS 34 B is a document published by the Basel Committee on Banking Supervision on March 1998 in the Financial Conglomerates category.


Report for the Birmingham Summit.



The Joint Forum on Financial Conglomerates (the Joint Forum), under the aegis of the Basle Committee on Banking Supervision (the Basle Committee), the International Organisation of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS), has pursued its examination of supervisory issues relating to the operations of financial conglomerates. The Joint Forum is comprised of an equal number of senior bank, insurance and securities supervisors representing each supervisory constituency. Thirteen countries are represented in the Joint Forum: Australia, Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Spain, Sweden, Switzerland, United Kingdom and United States. The EU Commission attends in an observer capacity. In November 1997, Mr. Alan Cameron A.M., Chairman of the Australian Securities Commission, succeeded Mr. Tom de Swam as Chairman of the Joint Forum.

In accordance with its mandate, which is attached in annex, the Joint Forum has in the past year: (a) pursued practical means at domestjic and international levels to facilitate the exchange of information between supervisors; (by investigated legal and other barriers which could impede the exchange of information between supervisors; (c) examined ways to enhance supervisory coordination, including the benefits and drawbacks to establishing criteria to identify and define the responsibilities of a coordinator or coordinators where appropriate; and (d) developed principles toward the more effective supervision of regulated firms within financial conglomerates.

The following paragraphs provide a synopsis of the various papers completed and of the consultative process underway, and a description of additional work done in identifying impediments to information sharing amongst supervisors and of the ongoing and future work of the Joint Forum.

Full document: scanned PDF, 9 pages, 429kb

Document Profile

  • Publication Date: March 1998
  • Publication Type: Other
  • Publication Status: Superseded
  • Publication Category: Financial Conglomerates
  • Number of Pages: 9
  • Keywords:

See Also


For definitive information on regulatory matters always consult primary sources, especially where it concerns legally binding rules and regulations.

The above regulatory document abstract is quoted verbatim in this Open Risk Manual entry and provided free of charge for the convenience of all internet users. There is no explicit or implicit endorsement of this web service by the Bank of International Settlements. The copyright of the included material rests with the original authors (Links to the original texts are duly provided).