The Basel Committee on Banking Supervision met in Basel on 27-28 February to discuss a range of policy and supervisory issues, and to take stock of its members’ implementation of post-crisis reforms.
At its meeting, the Committee:
- took note of the implementation status of margin requirements for non-centrally cleared derivatives. The Committee will publish in March a joint statement with the International Organization of Securities Commissions to clarify certain implementation aspects of the margin requirements framework;
- reiterated its support for reforms of interest rate benchmarks and approved a work plan to look at the interactions with supervisory requirements;
- agreed to publish high-level supervisory expectations related to crypto-assets in light of the high degree of risks associated with such exposures. These expectations will be published in March;
- discussed the use of different practices among jurisdictions to proportionately apply the Basel Committee‘s global minimum prudential standards, and agreed to publish a summary of these practices in March;
- reviewed the assessment reports on the implementation of the Net Stable Funding Ratio and large exposures standards in Brazil and India. Publication of these reports is expected in the coming months; and
- reviewed the follow-up reports and actions by member jurisdictions on the implementation of certain Basel III standards. These will be published in March.
The Committee also discussed its work programme for evaluating the impact of its post-crisis reforms. The programme includes planned evaluations related to cross-cutting policy issues, the countercyclical capital buffer framework and the global systemically important banks framework. Committee members also discussed issues related to sovereign risk.
The next meeting of the Basel Committee is tentatively scheduled for 19-20 June 2019.
The Basel Committee on Banking Supervision (BCBS) is a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974. It provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. The Committee frames guidelines and standards in different areas – some of the better known among them are the international standards on capital adequacy, the Core Principles for Effective Banking Supervision and the Concordat on cross-border banking supervision.The Committee’s Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland. The Bank for International Settlements (BIS) hosts and supports a number of international institutions engaged in standard setting and financial stability, one of which is BCBS. Yet like the other committees, BCBS has its own governance arrangements, reporting lines and agendas, guided by the central bank governors of the Group of Ten countries.