Basel Committee (BCBS) does not possess formal super national supervisory authority and hence its conclusions do not have legal force. True?

Basel Committee on Banking Supervision (BCBS) : The present assessment is considered preliminary. A follow-up assessment will take place once the EU authorities have published the final rules that implement Basel recommendations.

Yes, its only for;

The Basel Committee is the primary global standard-setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. Mr Stefan Ingves, Governor of Sveriges Riksbank, is the chairman of the Basel Committee. He was appointed as Basel Committee chairman in July2011 and has been reappointed until June2017.

The Committee reports to the Group of Governors and Heads of Supervision (GHOS). The Committee seeks the endorsement of GHOS for its major decisions and its work programme.

The Committee's Secretariat is located at the Bank for International Settlements in Basel, Switzerland, and is staffed mainly by professional supervisors on temporary secondment from member institutions. In addition to undertaking the secretarial work for the Committee and its many expert sub-committees, it stands ready to give advice to supervisory authorities in all countries. Mr William Coen is the Secretary General of the Basel Committee.

Hi Sir,

Thank you for your invitation.

Apologies, but I do not have any knowledge on this topic.

I think itis true.

Go by the Experts !!

I do not have any information

I will just answers colleagues

I agree with the answers to colleagues

Agree with Krishna...

agreed with all

I would agree with the experts. No power to enforce their standards and regulations. 

True.

Yes, it has not any legal force. check the following from their charter:

* Legal status:

The BCBS does not possess any formal supranational authority. Its decisions do not have legal force. Rather, the BCBS relies on its members' commitments to achieve its mandate.