On 5 June 2020, the Basel Committee on Banking Supervision (Basel Committee) issued a frequently asked questions (FAQs) document to promote the consistent interpretation of the Basel framework. The FAQs cover a range of issues relating to the reform of benchmark reference rates and clarifications relating to the standardised approach to operational risk.

The FAQs cover:

  • Definition of capital.
  • Market risk.
  • Counterparty credit risk.
  • Liquidity.
  • Operational risk.