BCBS
Definition
Basel Committee on Banking Supervision. The primary global standard setter for the prudential regulation of banks.
What This Actually Means
The international body that writes the global rulebook for bank regulation, including the IRRBB standards (BCBS 368/d368). National regulators then implement these into local rules. Think of BCBS as the template that EBA, PRA, APRA etc. translate into local regulation.
Where It Matters
BCBS d368 (2016) is the foundational IRRBB standard. The 2024 recalibration (d578) updated the prescribed rate shock magnitudes. Everything in your local IRRBB regulation traces back to a BCBS principle.
Abbreviation BCBS Basel Committee on Banking Supervision
The global standard-setter for bank regulation. Writes the IRRBB rulebook.