厙惇勛圖

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
≔ Menu
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. HomeRegulation news
  2. Basel Committee launches consultation on core principles for banking supervision
Regulation news

Basel Committee launches consultation on core principles for banking supervision


06 July 2023 Switzerland
Reporter: Bob Currie

Generic business image for news article
Image: anderm/adobe.stock.com
The Basel Committee has released a on proposed changes to its core principles for effective banking supervision.

In April 2022, the Basel Committee on Banking Supervision (BCBS) initiated a review of this set of core principles, which have been in place since 2007 and last updated in April 2012.

These core principles are employed by financial regulators to evaluate the effectiveness of their supervisory frameworks and by multilateral financial institutions such as the International Monetary Fund and World Bank, as part of the Financial Sector Assessment Program (FSAP), to assess the performance of national-level and supranational supervisory frameworks and practices.

The review aims to take into account structural changes affecting the global banking system, lessons learnt since the principles were last updated, and advances in regulatory best practice.

These revisions address changes in financial, operational and systemic risk, along with new risks which have become more prominent since 2012 such as climate-related financial risks and the digitisation of finance. These also reflect on risks impacting financial organisations that do not hold a banking licence or are not directly captured under the Basel capital adequacy regime.

Interested parties are asked to provide their feedback on revisions to the BCBS core principles by 6 October 2023.

← Previous regulation article

ESMA launches CSA for sustainability measures
Next regulation article →

ISLA responds to HMRC on Stamp Duty and SDRT
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →