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 Sets Out Standards for Pillar 3 Disclosures of ESG Risks

    The European Banking Authority (EBA) published the final draft implementing technical standards on Pillar 3 disclosures on environmental, social, and governance (ESG) risks.

    January 24, 2022 WebPage Regulatory News
    News

    EBA Proposes Guidelines on Remuneration Benchmarking, High Earner Data

    The European Banking Authority (EBA) proposed to update the guidelines on the data collection exercise on high earners and the remuneration benchmarking exercise under the Capital Requirements Directive (CRD).

    January 21, 2022 WebPage Regulatory News
    News

    MAS Issues Updates on Its Activities: Ravi Menon Becomes NGFS Chair

    The Network for Greening the Financial System (NGFS) announced the appointment of Mr. Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), as its new Chair for a two-year term.

    January 21, 2022 WebPage Regulatory News
    News

    CBIRC Issues Rules on Related-Party Transactions and Outsourcing Risks

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules on related-party transactions and outsourcing risks.

    January 21, 2022 WebPage Regulatory News
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    BIS Tests CBDC with Banks; FIS Examines Tech Firm Licensing Regime

    The Bank of International Settlements (BIS) announced successful test integration of wholesale central bank digital currency (CBDC) settlement with commercial banks, as part of the Project Helvetia.

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    HKMA Consults on FIRO Code, Revises Policy on Foreign Exchange Risk

    The Hong Kong Monetary Authority (HKMA) is consulting on the draft Financial Institutions (Resolution) Ordinance (Cap. 628), or FIRO, Code of Practice chapter on liquidity and funding in resolution, until March 14, 2022.

    January 18, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7912