The Basel Committee on Banking Supervision (BCBS) is the body entrusted at the global level with the prudential regulation of banks and, in particular, their solvency. The banking regulation standards agreed by the Committee are not legally binding, but their implementation is based on the commitment by its members to adopt them. The Committee thus promotes a level playing field for all banks competing internationally. It is also an international forum for cooperation on banking supervision. The Banco de España has been a fully fledged member since 2001. Since March 2019, the BCBS is chaired by the Governor of the Banco de España, Pablo Hernández de Cos.