On 16 April 2021, the Basel Committee on Banking Supervision (Basel Committee) published its work programme for 2021-22.
The work programme focuses on three key themes:
- COVID-19 resilience and recovery. This includes ongoing monitoring and assessment of risks and vulnerabilities to the global banking system.
- Horizon scanning and mitigation of medium-term risks and trends. This includes work related to the ongoing digitalisation of finance, climate-related financial risks, and the impact on banks’ business models resulting from a “low-for-long” interest rate environment.
- Strengthening supervisory coordination and practices. The Basel Committee will focus on the role of artificial intelligence / machine learning in banking and supervision, data and technology governance by banks, operational resilience, and the role of proportionality in bank regulation and supervision.
The Basel Committee’s Basel III related work will focus on monitoring the full, timely and consistent implementation of the standards by its members. It will also complete an evidence-based evaluation of the effectiveness of the Basel III reforms.