Featured Product

    GHOS Endorses Strategic Priorities and Work Program of BCBS

    March 31, 2021

    The Group of Central Bank Governors and Heads of Supervision (GHOS), which is the oversight body of BCBS, has endorsed the strategic priorities and work program of the Basel Committee for 2021–22. Consistent with the previous GHOS agreement, dated November 2020, to mark a clear end to the Basel III policy agenda, the new work program places high priority on the implementation and evaluation of previously agreed reforms, on assessing emerging risks and vulnerabilities, and increasing supervisory cooperation. The detailed work program will be published in April 2021.

    BCBS will also keep monitoring the resilience of the global banking system as the COVID-19 pandemic continues to unfold, ensuring that banks contribute to the subsequent recovery sustainably. During the recent meeting, GHOS members also took the opportunity to exchange views on various ongoing global initiatives on non-bank financial intermediation (NBFI). NBFI now accounts for almost half of the global financial system and plays an increasing role in providing financing to the real economy. Banks and non-bank financial entities are interconnected through multiple channels. The safety and soundness of the NBFI sector is, therefore, important to the safety and soundness of the banking sector. GHOS members agreed that NBFI initiatives should take a holistic approach, as followed by FSB, considering the need to improve the resilience of NBFI, to minimize systemic risk and to meet other market-related objectives. Such initiatives should also safeguard the resilience and agreed prudential standards of the global banking system, which have been a critical support in the management of the COVID-19 crisis. Meanwhile, bank supervisors should continue to monitor NBFI developments to better gauge the range of direct and indirect interconnections with the banking system.

     

    Related Links

    Keywords: International, Banking, Basel, COVID-19, Work Program, Strategic Priorities, NBFI, GHOS, BCBS

    Featured Experts
    Related Articles
    News

    PRA Finalizes Supervisory Approach for Non-Systemic Banks in UK

    PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.

    April 15, 2021 WebPage Regulatory News
    News

    EBA Finalizes Standards on Methods of Prudential Consolidation

    EBA published a report that sets out the final draft regulatory technical standards specifying the conditions according to which consolidation shall be carried out in line with Article 18 of the Capital Requirements Regulation (CRR).

    April 15, 2021 WebPage Regulatory News
    News

    EBA Updates List of Other Systemically Important Institutions in EU

    EBA updated the list of other systemically important institutions (O-SIIs) in EU.

    April 15, 2021 WebPage Regulatory News
    News

    BCBS Report Concludes Basel Risk Categories Can Capture Climate Risks

    BCBS published two reports that discuss transmission channels of climate-related risks to the banking system and the measurement methodologies of climate-related financial risks.

    April 14, 2021 WebPage Regulatory News
    News

    UK Authorities Welcome FSB Review of their Remuneration Regime

    UK Authorities (FCA and PRA) welcomed the findings of FSB peer review on the implementation of financial sector remuneration reforms in the UK.

    April 14, 2021 WebPage Regulatory News
    News

    PRA and FCA Letter on Addressing Risks from Use of Deposit Aggregators

    PRA and FCA jointly issued a letter that highlights risks associated with the increasing volumes of deposits that are placed with banks and building societies via deposit aggregators and how to mitigate these risks.

    April 14, 2021 WebPage Regulatory News
    News

    MFSA to Amend Banking Act and Rules in Coming Months to Transpose CRD5

    MFSA announced that amendments to the Banking Act, Subsidiary Legislation, and Banking Rules will be issued in the coming months, to transpose the Capital Requirements Directive (CRD5) into the national regulatory framework.

    April 14, 2021 WebPage Regulatory News
    News

    EC Delegated Regulation on Specialized Lending Exposures Under CRR

    EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.

    April 14, 2021 WebPage Regulatory News
    News

    OSFI Proposes to Enhance Assurance Expectations for Basel Returns

    OSFI launched a consultation to explore ways to enhance the OSFI assurance over capital, leverage, and liquidity returns for banks and insurers, given the increasing complexity arising from the evolving regulatory reporting framework due to IFRS 17 (Insurance Contracts) standard and Basel III reforms.

    April 13, 2021 WebPage Regulatory News
    News

    ECB Issues Results of Benchmarking Analysis of Recovery Plans of Banks

    ECB published results of the benchmarking analysis of the recovery plan cycle for 2019.

    April 13, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6858