FSI Publishes Executive Summaries on Latest Regulatory Standards
The Financial Stability Institute (FSI) of BIS launched a publication series called Executive Summaries for the general public. These are concise and accessible notes covering the main financial regulatory and supervisory standards for banks and insurers. The seven Executive Summaries that have been published offer an overview of Basel III and related post-crisis reforms, IRRBB's Pillar 2 standardized framework, revised market risk framework, total loss-absorbing capacity, assessment methodology for global systemically important insurers (G-SIIs), capital adequacy for G-SIIs, and systemic risk from insurance product features.
These Executive Summaries can be used as a quick reference to understand the relevant standards and frameworks in key areas. FSI Chair Fernando Restoy indicated that these documents "can foster the general public's knowledge of the main features of the financial regulatory and supervisory standards." In this regard, BIS General Manager Jaime Caruana added, "The FSI Executive Summaries will contribute to a better understanding of the substantive reforms that have taken place following the global financial crisis." New Executive Summaries will be posted on this page in line with the global financial regulatory bodies' work program. The FSI was jointly created by the BIS and the BCBS to assist supervisors around the world in improving and strengthening their financial systems.
Related Link: FSI Executive Summaries
Keywords: International, FSI, Regulatory Standards, Executive Summaries, Banking, Insurance, BCBS
Previous Article
OCC Proposes Revisions to its Stress Testing RuleRelated Articles
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
BIS Bulletin Examines Cognitive Limits of Large Language Models
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
ECB is Conducting First Cyber Risk Stress Test for Banks
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
EBA Continues Momentum Toward Strengthening Prudential Rules for Banks
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
EU and UK Agencies Issue Updates on Final Basel III Rules
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards