On 23 March 2018, the Basel Committee on Banking Supervision (Basel Committee) published a press release following its meeting on 15-16 March 2018. At this meeting the Basel Committee discussed its work programme and strategic priorities for 2018-19. The Basel Committee’s work programme centres on four broad themes:
- finalising existing policy initiatives and initiating targeted policy development;
- ensuring full, timely and consistent implementation of the Basel Committee’s post crisis reforms;
- promoting strong supervision; and
- evaluating and monitoring the impact of post-crisis reforms, as well as assessing emerging risks.
In terms of its current policy work the Basel Committee:
- agreed to consult on a set of limited and targeted revisions to the revised market risk framework published in January 2016. A consultation paper setting out these revisions was published on 22 March. Basel Committee members reiterated their expectation of full, timely and consistent implementation of the revised market risk framework by 1 January 2022;
- would revise its assessment framework for global systemically important banks following its earlier consultation on possible revisions; and
- agreed on a set of criteria and capital treatment for short-term simple, transparent and comparable securitisations. The accompanying standard will be published in due course.