On 6 July 2021, the Basel Committee on Banking Supervision published a report that gives a preliminary assessment of the impact of the implemented Basel reforms during the COVID-19 pandemic as part of a broader review of their effectiveness.
Overall, the report finds that the increased quality and higher levels of capital and liquidity in
On 21 to 23 October 2020, the Financial Action Task Force (FATF) held its final quarterly plenary of 2020 as a virtual event. The discussions over three days mostly focussed on Strategic Initiatives reacting to the Covid-19 pandemic and progress made on country specific processes. The FATF also provided an update on their
Financial institutions have had to deal with two challenges in the face of the COVID-19 pandemic. The first challenge is financial – how to address and mitigate the sharp drop in the value of financial assets or loss of liquidity. The second challenge is operational – how to address the risk of failure of resources