On 27 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a supervisory newsletter on the adoption of the Principles for Operational Resilience (POR) and the revised Principles for the Sound Management of Operational Risk (PSMOR). The newsletter reports on the Basel Committee’s evaluation of the POR
On 27 November 2023, the Financial Stability Board (FSB) published the 2023 list of global systemically important banks (G-SIBs). FSB member authorities apply the following to G-SIBs: high capital buffer, total loss-absorbing capacity, group wide resolution planning and regular resolvability assessments and higher supervisory expectations including for risk management functions. The
On 27 November 2023, the Basel Committee on Banking Supervision published material related to the identification of the 2023 global systemically important banks (G-SIB), including updated denominators used to calculate banks’ scores, the thresholds used to allocate the banks to buckets and the values of the 13 high-level indicators of all banks in
On 27 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a supervisory newsletter on the adoption of the Principles for Operational Resilience (POR) and the revised Principles for the Sound Management of Operational Risk (PSMOR). The newsletter reports on the Basel Committee’s evaluation of the POR
On 22 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a newsletter on the implementation of the Principles for the effective management and supervision of climate-related financial risks (the Principles).
The Basel Committee published the Principles, which seek to improve banks’ climate-related financial risk management and supervisors’ practices
On 22 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a newsletter on the implementation of the Principles for the effective management and supervision of climate-related financial risks (the Principles).
The Basel Committee published the Principles, which seek to improve banks’ climate-related financial risk management and supervisors’ practices
On 10 October 2023, the Financial Stability Board (FSB) published a report on the 2023 bank failures and the preliminary lessons learnt from resolution.
The report identifies preliminary lessons learnt regarding the FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions (Key Attributes) for:
On 11 October 2023, the Financial Stability Board (FSB) published an annual report on promoting global financial stability.
The report, which was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Marrakesh, describes the FSB’s work to promote global financial stability. The report looks at the banking turmoil
On 5 October 2023, the Basel Committee on Banking Supervision published a report on the 2023 banking turmoil.
The report assesses the causes of the banking turmoil, the regulatory and supervisory responses and the initial lessons learnt.
Drawing on the findings of this report, the Basel Committee is pursuing a series of follow-up initiatives including:
This article was co-authored with Abhi Ravishankar and Joel McKay
In a much anticipated development, Treasury has released for consultation its exposure draft on Australian financial service (AFS) license exemptions for foreign financial services providers (FFSPs) (the exposure draft Bill and explanatory memorandum can be found here). This consultation comes