France, Germany, Italy, Japan, Luxembourg, Netherlands, Spain, Sweden, Switzerland, United Kingdom and the United States. Over 100 other countries also adopted, at least in name, the principles prescribed under Basel I. The efficacy with which the principles are enforced varies, even within nations of the Group. Criticism Basel I incentivized global banks to lend to members of the OECD and the IMF's General Arrangements to Borrow (GAB) while disincentivizing loans to non-members of these institutions. See also Basel Accords Basel IA Basel II Basel III References Further reading External links Bank for International Settlements Original text of the Basle Capital Accord 1988 in Switzerland Financial regulation Bank regulation 1988 in economics