Basel Committee on Banking Supervision Agrees Next Steps for Basel Standards
11/29/2018Central bankers and banking supervisors from over eighty jurisdictions met this week in Abu Dhabi, United Arab Emirates to discuss a range of policy and supervisory topics.
On November 26-27, 2018 there was a meeting of the Basel Committee on Banking Supervision at which it was agreed that a consultation would take place next year to discuss a framework to consolidate the Committee's standards into a single integrated structure. Moreover, a number of items were agreed:
- A set of targeted revisions to the market risk framework which is due to be implemented by January 1, 2022.
- A consultation on potential enhanced disclosures to reduce bank window-dressing behaviour related to leverage ratio will be pursued. The Basel Committee issued a statement in October declaring unacceptable the alleged tendency in banks to engage in so-called window-dressing by temporarily reducing transaction volumes around key reference dates, which has supposedly the effect of allowing banks to report and publicly disclose better leverage ratios.
- A set of revisions to the Pillar 3 disclosure framework will be published in December.
- A report will be published in December setting out the range of bank, regulatory and supervisory cyber-resilience practices across jurisdictions.
View the press release.
View details of the Basel Committee's consultation on the revised market risk framework.
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