BCBS Meets to Discuss Policy and Supervisory Initiatives

In its meeting, BCBS agreed to publish the following in March:

• Joint statement with IOSCO to clarify certain implementation aspects of the margin requirements framework
• High-level supervisory expectations related to crypto-assets
• Summary of different practices among jurisdictions to proportionately apply the global minimum prudential standards
• Follow-up reports and actions by member jurisdictions on the implementation of certain Basel III standards

In addition, BCBS reiterated its support for reforms of interest rate benchmarks, approved a work plan to look at the interactions with supervisory requirements, and reviewed the assessment reports on the implementation of the net stable funding ratio and large exposures standards in Brazil and India. Also discussed was the BCBS work program for evaluating the impact of its post-crisis reforms; the work program includes planned evaluations on cross-cutting policy issues, the countercyclical capital buffer framework, and the global systemically important banks framework. The next meeting of the Basel Committee has been tentatively scheduled for June 19-20, 2019.

Related Links: Press Release

Keywords: Global, Banking, Interest Rate Benchmarks, Crypto Assets, Basel III, Post Crisis Reforms, Margin Requirements, BCBS