Featured Product

    Canada Hosts International Conference of Banking Supervisors

    October 22, 2020

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020. The overarching theme for the Conference this year was "the future of supervision in a changing world." The discussions covered the digitalization of finance and the evolution of banking models, operational resilience, climate-related financial risks, and remote working arrangements. Participants also exchanged views on the challenges for central banks and bank supervisors in advanced and emerging market economies during the Covid-19 pandemic as well as adapting to the changing operating environment for central banks and supervisors.

    The event included several panel discussions and keynote speeches by Pablo Hernández de Cos, the BCBS Chair, and Prithwiraj Choudhury, the Associate Professor at Harvard Business School. The BCBS Chair discussed the lessons learned from the ongoing crisis so far and the "future and changes that we want to see in banking supervision."  He emphasized that the Basel III capital and liquidity buffers could be a powerful lever for banks to absorb shocks and maintain lending. Since the start of this crisis, BCBS has publicly reiterated its position that a measured drawdown of buffers to meet these objectives is appropriate and that supervisors will provide sufficient time for banks to restore these buffers. Using these resources to absorb shocks and support households and businesses should take priority at present over discretionary distributions. Professor Prithwiraj Choudhury discussed the implications of the "working from anywhere" geographic flexibility, with the participants discussing what this means for supervision. These changes, whether temporary or permanent, offer some clues about the future landscape.

    Approximately 450 senior banking supervisors and central bankers representing close to 100 countries took part in the conference. Delegates discussed a wide range of issues related to the future of banking supervision in a changing world. This successful event marks the first time that the Basel Committee has worked with a host country to offer a completely virtual conference. The conference promotes the discussion of key supervisory issues and fosters the continuing cooperation in the oversight of international banking. With its wide membership of senior supervisors and policymakers, the conference presents a unique opportunity for a broad-based discussion on issues that are timely and relevant to supervisors in both advanced and emerging market economies.

     

    Related Links 

    Keywords: International, Americas, Canada, Banking, COVID-19, Basel, Operational Resilience, Climate Change Risk, ICBS, International Conference of Banking Supervisors, OSFI, BCBS

    Featured Experts
    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153