Chairman, Basel Committee on Banking Supervision and Governor, Sveriges Riksbank
Welcome and keynote address at a symposium to mark 25 years of the Basel Capital Accord 25 years of international financial regulation: Challenges and opportunities Basel, 26 September 2013
"...The Basel Committee and its activities have changed almost beyond recognition since its establishment in 1974, or even since 1988 when the first Accord was agreed. I doubt whether the founding Governors really foresaw what the Committee would eventually become: not just an international standard setter, but also one that now conducts peer reviews of members’ compliance with their agreements. Indeed, if they had, I suspect that a few of them might have been against the Committee’s establishment in the first place!..."
Full doc: www.bis.org/speeches/sp130926.pdf