What Does a Camp Cook Do?

The Cook Commission was from 1973 to 1974. The National Bank of San Diego, the National Bank of Franklin, and the Federal Bank of Germany Herstatt closed down in succession. In January 1975, the American Hampstead Security National Bank declared bankruptcy. In addition, many large commercial banks have suffered losses continuously, and the bankruptcy and losses of small and medium-sized banks have become more serious. These situations have caused great shocks in the official and financial circles of capitalist countries, and they have proposed ideas to establish an effective bank supervision system on an international scale. The Cook Commission was born under these historical conditions. In February 1975, the BIS came forward to preside over the establishment of the Standing Committee of BIS Control and Supervision Activities, whose members consisted of officials from the Group of Ten plus the Swiss Central Bank. Since 1977, the committee has been headed by Cook, director of the Bank of England's Banking Supervision Office, and has been called the "Cook Commission." ^[1]