Featured Product

    BCBS Publishes Consultation on the Consolidated Basel Framework

    April 09, 2019

    BCBS published a consultative document on the consolidated Basel framework. The Basel Committee also launched a new section of its website that sets out a draft version of the consolidated framework of its global standards for the regulation and supervision of banks. The consultation aims to gather feedback on the website and on the proposed technical amendments to the standards. Comments are being invited by August 09, 2019. The consultative document is accompanied by a mapping table to show links between the published standards and the individual paragraphs in the new format.

    BCBS welcomes comments on the accuracy and clarity of the consolidated framework and on the proposed technical amendments to the standards. The preparation of the standards in the new format revealed some inconsistencies and ambiguities with the Basel requirements, which need to be addressed through minor policy changes. Such policy changes, which are not substantial but which cannot be resolved unambiguously based on the current text, would normally be subject to a consultation as technical amendments. BCBS considers it to be most efficient to consult on all such changes together in the context of the launch of the consolidated framework. The consolidated framework also contains several new frequently asked questions (FAQs) that have been listed in Section 2 of the consultative document. As the technical amendments proposed in the consultative document are not substantial and, in the view of the Basel Committee, contribute to a more coherent prudential framework, BCBS will encourage its members to implement the final requirements as soon as possible, but no later than January 01, 2022.

    The consolidated framework aims to improve the accessibility of BCBS standards and to promote their consistent global interpretation and implementation. The publication of standards in the new format of the consolidated framework has focused on reorganizing the existing requirements. There was no intention to introduce new requirements or otherwise amend the standards previously agreed and published by BCBS. In preparing the framework, BCBS has taken the opportunity to simplify the standards where possible, clarify provisions known to cause confusion, integrate FAQs, and delete the redundant review clauses and other outdated provisions.

     

    Related Links

    Comment Due Date: August 09, 2019

    Keywords: International, Banking, Basel Framework, Technical Amendment, FAQ, Basel III, Regulation and Supervision, BCBS

    Featured Experts
    Related Articles
    News

    APRA Publishes Proposal to Increase Transparency of Banking Data

    APRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.

    December 05, 2019 WebPage Regulatory News
    News

    ESMA Consults on Guide to Internal Controls for Credit Rating Agencies

    ESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).

    December 05, 2019 WebPage Regulatory News
    News

    EU Finalizes Directive and Prudential Rules for Investment Firms

    EU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.

    December 05, 2019 WebPage Regulatory News
    News

    OSFI Revises Guideline on Principles for Management of Liquidity Risk

    OSFI finalized Guideline B-6 on the principles for the management of liquidity risk.

    December 05, 2019 WebPage Regulatory News
    News

    PRA Consults on Framework to Manage Outsourcing and Third-Party Risk

    PRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.

    December 05, 2019 WebPage Regulatory News
    News

    BoE, PRA, and FCA Consult to Strengthen Operational Resilience

    BoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.

    December 05, 2019 WebPage Regulatory News
    News

    EC Amends Rule on Mapping of External Credit Assessment Institutions

    EC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.

    December 04, 2019 WebPage Regulatory News
    News

    EBA Issues Second Part of Advice on Implementation of Basel III in EU

    EBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.

    December 04, 2019 WebPage Regulatory News
    News

    EU Approves European Council Proposal on CCP Recovery and Resolution

    EU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.

    December 04, 2019 WebPage Regulatory News
    News

    OSFI Releases Guideline on Foreign Bank Branch Deposit Requirements

    OSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.

    December 04, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4268