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Loan and Mortgage Terms Glossary

Basel Agreement:

An accord developed during a 1975 meeting in basel, switzerland of central bankers of the industrialized nations setting forth guidelines for the supervision of banks. Included are guidelines for minimum capital requirements. The agreement was reached by the committee on banking regulations and supervisory practices (also known as the cooke committee after its chairman, peter cooke), meeting under the auspices of the bank for international settlements.

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