BASLE COMMITTEE Definition

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BASLE COMMITTEE was set up by the Bank for International Settlements and is based in Basle. The Committee drew up international capital adequacy standards for banks and was once known as the Cooke Committee, after a former chairman.

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ARREARS is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.

HISTORICAL EXCHANGE RATES are just that: The historical data on currency exchange rates.

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