On 9 November 2021, the Basel Committee on Banking Supervision announced that it had finalised a technical amendment to the Basel Framework which relates to the process used by the Committee to review the Global Systemically Important Bank assessment methodology. The Committee has replaced the prior three year review cycle with a process of ongoing monitoring and review.

To reflect the new approach, SCO40.30 of the Basel Framework has been replaced with the following:

The methodology, including the indicator-based measurement approach itself, the cutoff/threshold scores and the size of the sample of banks, are regularly monitored and reviewed by the Committee in order to ensure that they remain appropriate in light of: (i) developments in the banking sector; (ii) progress in methods and approaches for measuring systemic importance; (iii) structural changes; and (iv) any evidence of material unintended consequences or material deficiencies with respect to the objectives of the framework. As regards the structural changes in regional arrangements – in particular in the European Banking Union – they will be reviewed as actual changes are made.