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clarify provisions known to cause confusion, integrate FAQs, and delete the redundant review clauses and other outdated provisions.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

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425