Global Committees

The Banco de España is a member institution of different global committees and fora where risks to global financial stability are addressed and the regulatory implementation of macroprudential policy is coordinated.

These supranational committees have no binding or executive powers over the member institutions. The agreements of these committees are implemented at the discretion of the local lawmakers and supervisory authorities in each jurisdiction.

The Financial Stability Board (FSB) brings together Ministries of Economy and Finance, central banks and banking, securities market and insurance supervisory authorities from G20 nations to promote the coordination of supervisory, resolution, regulatory and other policies across countries and sectors.

Notably, the FSB, together with the BCBS, publishes every year a list of global systemically important banksOpens in new window.

The Basel Committee on Banking Supervision (BCBS) brings together the central banks and supervisory authorities from the G20 nations to promote supervisory cooperation and develop common standards for prudential banking regulation.

In the macroprudential domain, the BCBS has published, as part of the Basel III framework, technical guidelines for setting a countercyclical capital bufferOpens in new window and coordinates yearly the identification of global systemically important banksOpens in new window.