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European Union (EU) Acronyms

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B

BA - business associate (individual or business who performs contract services for a physician or healthcare provider under the Health Insurance Portability and Accountability Act (HIPAA) )

BAC - Bioethics Advisory Committee (body dealing with medical ethics in the conduct of medical research)

BAT - best available techniques (EU environmental standard for measuring compliance with industrial emissions requirements)

BCBS - Basel Committee on Banking Supervision (committee of central banks, bank supervisors, and regulators that meets at the Bank for International Settlements (BIS) in Basel, Switzerland to discuss issues relating to banking supervision, and to formulate standards, guidelines, and regulations)

BCRs - binding corporate rules (a set of rules that allow multinational organizations to transfer personal data from the European Union (EU) to their affiliates outside of the EU)

BDSG - bundesdatenschutzgesetz (Federal Commissioner for Data Protection and Freedom of Information - German supervisory authority with oversight of data protection)

BEU - Benelux Economic Union (Organization of the Benelux countries - Belgium, the Netherlands, and Luxembourg - created by treaty signed in February 1958 at the Hague and coming into force in November 1960)

BIC - Bank Investment Contract (contract issued by a bank, guaranteeing a fixed rate of return on invested capital over the life of the contract)

BIF - Bank Insurance Fund (U.S. banking agency which insured deposits in commercial banks until 2006, when the Deposit Insurance Fund (DIF) assumed responsibility)

BIMS - Biometric Information Management and Security (system for managing data containing an individual's biological attributes or behavior as a means of identification and security)

BIN - Bank Identification Number (American Bankers Association (ABA) transit number assigned to each U.S. financial institution, appearing on checks, to facilitate check clearing)

BIN - Bank Identification Number (numeric code identifying bank card issuing financial institutions affiliated with VISA or MasterCard - first six digits of the account number)

BIPA - Biometric Information Privacy Act (Illinois law limiting the collection or use of biometric (biological identifiers or characteristics) data, such as facial recognition technology)

BIS - Bank for International Settlements (international organization, based in Basel, Switzerland, that acts as a bank for central banks of major industrial countries)

BIT - bilateral investment treaty (treaty between two countries governing investments by individuals or companies within those countries)

BREFs - BAT (best available techniques) reference document (document/report containing information summary for measuring compliance with EU industrial emissions standards)

Brexit - British exit from the European Union (process by which the UK elected to leave (withdraw its membership in the European Union), completed under Prime Minister Boris Johnson on January 31, 2020)

BRIC - Brazil, Russia, India, China (countries considered important as major trading partners of the European Union)

BSE - Brussels Stock Exchange (exchange founded by Napoleonic decree in 1801 - following a 2000 merger, was renamed Euronext Brussels)

Bull EC - Bulletin of the European Communities

BYOD - bring-your-own-device (an organizational policy which allows, restricts, or prohibits the use of personal electronic devices, such as mobile phones, by providing details as to acceptable use, permitted functions, allowed applications, and device access to a system network)