March 23, 2018

BCBS published a summary of the discussions at its meeting during March 15-16, 2018 in Basel. The key topics discussed in the meeting included work program and strategic priorities of BCBS for 2018-19, current policy work, implementation of Basel III standard, and ongoing initiatives to promote strong supervision. The next meeting of BCBS is scheduled to take place on September 19-20, 2018.

With regard to the current policy work, the Committee agreed to consult on a set of limited and targeted revisions to the revised market risk framework, which was published in January 2016. The Committee also agreed on a set of criteria and capital treatment for short-term simple, transparent, and comparable securitizations, for which the accompanying standard will be published in due course. Additionally, the Committee agreed on a revised assessment framework for global systemically important banks, which will soon be published. Furthermore, the Committee approved, for publication, a report on early supervisory intervention practices. It has been decided that a revised version of the work program, including a version for publication, will be submitted to the BCBS oversight body, which is the Group of Central Bank Governors and Heads of Supervision, for endorsement. The work program of the Committee centers on four broad themes:

  • Finalizing existing policy initiatives and initiating targeted policy development
  • Ensuring full, timely, and consistent implementation of the post-crisis reforms
  • Promoting strong supervision
  • Evaluating and monitoring the impact of post-crisis reforms, in addition to assessing emerging risks

Other topics of discussion at the meeting included an agreement to explore ways to conduct preliminary consistency assessments of members' forthcoming draft rules to implement the final Basel III standard (December 2017) and an agreement to further assess the identified transactions and behavioral responses by banks that could potentially constitute a form of regulatory arbitrage. Views were also exchanged on the recent market and supervisory developments, including the impact on the banking system of volatility in financial markets in the first quarter of 2018 and implications of the emergence of crypto-assets

 

Related Link: Press Release

Keywords: International, Banking, Work Program, Basel III, Implementation of Reforms, Priorities, BCBS

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