In this latest edition of Regulation Around the World we review the position regarding recovery and resolution for banks.
Following the 2008 global financial crisis, the G20 leaders endorsed at the Cannes Summit in November 2011, the Financial Stability Board’s Key Attributes of Effective Resolution Regimes for Financial Institutions as the international standard for resolution
On 6 July 2023, the Basel Committee on Banking Supervision (Basel Committee) published a consultive document on core principles for effective banking supervision (the Core Principles).
The Core Principles are the de facto minimum standards for the sound prudential regulation and supervision of banks and banking systems. They are universally applicable and
In many jurisdictions there has been heightened regulatory scrutiny on how financial institutions are dealing with borrowers in financial difficulty. When looking at the statements and criticisms’ that the regulators have made and what institutions themselves have self-identified, the issues may revolve around five key themes – vulnerable customers, due diligence/understanding customers, forbearance, communications and
On 7 June 2023, the Bank for International Settlements (BIS) issued a press release concerning the meeting that the Basel Committee on Banking Supervision (Basel Committee) had on 6 June 2023. At this meeting the Basel Committee took stock of recent market developments and risks to the global banking system. It
On 25 May 2023, a group of central banks, together with the Bank for International Settlements, published a paper on central bank digital currencies (CBDC): ongoing policy perspectives.
Since publishing (i) a report in October 2020 setting out the common foundational principles and core features of a CBDC, and (ii) an executive summary
On 12 April 2023, the Financial Stability Board (FSB) published a letter from its Chair, Klaas Knot, to G20 Finance Ministers and Central Bank Governors, ahead of their meeting on 12-13 April. The letter discusses the recent turmoil in the banking sector and touches on its recommendations to address increasing cyber threats.
Mr
On 30 March 2023, the Basel Committee on Banking Supervision published updated a Technical Amendment document containing various technical amendments and FAQs.
The Technical Amendment document contains proposed amendments to the Basel Framework relating to the:
On 23 March 2023, the Basel Committee on Banking Supervision (Basel Committee) announced a range of policy and supervisory initiatives, following a meeting on 14 March and 22-23 March to take stock of recent market developments and risks to the global banking system.
Following the meeting, the Basel Committee announced the following:
As many of you are aware, Silicon Valley Bank (SVB), a bank licensed by the State of California whose deposits are insured by the FDIC, was seized by the California Department of Financial Protection and Innovation and placed into FDIC receivership on Friday, March 10.
Read our full update here.
On 14 December 2022, the Basel Committee on Banking Supervision published a report on the evaluation of the impact and efficacy of the Basel III reforms.
This report provides the Committee’s first holistic evaluation of the impact and efficacy of the Basel III reforms and how they have affected bank resilience and systemic risk as