Basel is a city in northwestern Switzerland on the river Rhine. The Basel region culturally extends into German Baden-W?rttemberg and French Alsace. Basel was the seat of a Prince-Bishopric since the 11th century, and joined the Swiss Confederacy in 1501. Basel had been a commercial hub since the Renaissance, and it emerged as a centre for the chemical and pharmaceutical industry in the 20th century.
Basel is Switzerland's third-most-populous city (behind Z?rich and Geneva) with about 195,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany. In 2014, the Basel agglomeration was the third largest in Switzerland with a population of 537,100 in 74 municipalities in Switzerland and an additional 53 in neighboring countries (municipal count as of 2000). The tri-national Basel metropolitan area has around 830,000 inhabitants in 226 municipalities.
In October 2013, the Federal Reserve Board proposed rules to implement the Liquidity Coverage Ratio in the United States, which would strengthen the liquidity positions of large financial institutions. The proposal would create for the first time a standardized minimum liquidity requirements for large and internationally active banking organizations and systemically important, non-bank financial companies designed by the Financial Stability Oversight Council. These institutions would be required to hold minimum amounts of high-quality, liquid assets such as central bank reserves and government and corporate debt that can be converted quickly and easily into cash.
On February 22, 2016, Ambassador LeVine and her husband, Eric, traveled to Basel to meet with local officials of the canton of Basel Stadt. During the discussion, the Ambassador highlighted recent progress in introducing the Swiss apprenticeship model to the U.S. with the collaboration of Swiss firms.
While in Basel, Ambassador LeVine met with the American Women’s Club of Basel, held a Town Hall meeting with U.S. citizens, spoke with university students and met with executives of the Bank for International Settlements (BIS).
The following Basel Coordination Committee (BCC) Bulletins provide examination guidance relating to the implementation of the advanced approaches risk-based capital rule (advanced approaches rule). The BCC consists of Federal Reserve System staff who are responsible for overseeing the Federal Reserve System’s process for implementing the advanced approaches rule. These BCC Bulletins address specific matters relating to the advanced approaches rule and are applicable to only a few large, internationally active banking organizations. As such, the guidance is decisively technical in nature and is primarily for relevant supervisory staff and banking organization personnel with extensive background knowledge of the rule. To view the advanced approaches rule, see 12 CFR part 208, appendix F (state member banks) and 12 CFR part 225, appendix G (bank holding companies).
On March 4th, the Federal Reserve Board (FRB) reproposed its single-counterparty credit limits (SCCL) rule. The reproposal comes several years after two earlier versions (in 2011 and 2012), and almost two years after the related large exposures framework issued by the Basel Committee on Banking Supervision (BCBS).  It is intended to reduce systemic risk by limiting a large banking organization’s credit exposure to any single counterparty as a percentage of the bank’s capital. The reproposal would apply to large banking organizations with over $50 billion in total consolidated assets, including US bank holding companies (BHCs), intermediate holding companies (IHCs), and foreign banking organizations’ (FBOs) combined US operations
This program offers you an opportunity to learn about health care, nursing education and culture in Switzerland. During this 2-week study abroad experience, you will visit various health care facilities in Basel Switzerland. In addition, you will visit a BSN program in St. Gallen where you will have the opportunity to compare nursing education in Switzerland to that in the US. The program includes excursions to Zurich, Berne, St. Gallen and Geneva. During the trip to Geneva, you will also visit the World Health Organization, United Nations, Red Cross Museum and International Council of Nurses. There is also an opportunity to visit attractions in the Swiss Alps.
The banking industry argues that Basel III will seriously harm the economy. For example, the Institute of International Finance (IIF) calculated that the economies of the US and Europe would be 3% smaller after five years than if Basel III were not adopted. My own analyses, and those of other disinterested parties, generally suggest a much smaller cost that would seem to be considerably outweighed by the safety benefits. As the recent crisis clearly attests, severe financial crises can cause permanent damage to the world’s economy, imposing economic loss and emotional pain on hundreds of millions, if not billions, of people. It is worthwhile to give up a little economic growth in the average year in order to avoid these major impacts, as my work suggests would be the case. On the other hand, if the industry is right, the additional safety is probably not worth the cost and a more modest regulatory revamp would be preferable.
The Basel chapter of the Columbia Alumni Association of Switzerland has almost 60 active, registered members. Currently, we have about four events each year. The chapter organizes simple gatherings and happy hours, outings to museums and guided tours, and special events. One of our most successful events each year is the Alumni Guided Tour at Art Basel. We also started to organize joint events with fellow alumni of other Ivy League schools.
The Basel Committee has made significant revisions to the Basel III Liquidity Coverage Ratio (“LCR”). The revised LCR standards allow banks to use a broader range of liquid assets to meet their liquidity buffer and relax some of the run-off assumptions that banks must make in calculating their net cash outflows. The revised standards also clarify that banks may dip below the minimum LCR requirement during periods of stress. The Basel Committee expects national regulators to implement the LCR on a phased-in basis beginning on January 1, 2015. The Basel Committee will also press ahead with its review of the Basel III Net Stable Funding Ratio (“NSFR”).