The Bank of England sponsored an international conference of banking supervisory authorities in London on 5th and 6th July 1979. The conference was arranged by the Bank in association with the Standing Committee of Banking Supervisory Authorities of the Group of Ten Countries and Switzerland, which was set up by the Central Bank Governors' meeting at the Bank for International Settlements in Basle in 1974.
Representatives of central banks and other supervisory authorities from over eighty countries attended, together with observers from the EEC Commission, the World Bank and the International Monetary Fund. The meeting was the first occasion on which banking supervisory authorities had been brought together from such a wide range of countries around the world.
The conference was arranged with the object of allowing supervisors concerned with international banking to meet each other, and to establish or renew useful working relationships. It also enabled a much wider range of countries than those meeting regularly in Basle to discuss matters which have been considered in that forum.