The report concludes that the effectiveness of colleges has improved since 2015 in the areas of information-sharing, coordinated risk assessment and crisis preparedness. Yet challenges still remain, including those related to legal constraints on information-sharing, supervisory resource constraints and expectation gaps between home and host supervisors.
To overcome these challenges, the report sets out sound practices that include placing emphasis on the work between (or outside) formal college meetings, and encouraging home and host supervisors to reach out to each other to clarify expectations.
The Basel Committee's Principles for effective supervisory colleges were first published in 2010 and updated in 2014. The Committee monitors member jurisdictions' adoption of these principles, and identified three areas to improve the effectiveness of colleges as noted above in its July 2015 Progress report on the implementation of principles for effective supervisory colleges.
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