23 March 2018

BCBS discusses its work programme, current policy work, implementation of its standards, and initiatives to promote strong supervision

"The Basel Committee is committed to transparency and accountability in its role as the global standard setter for the prudential regulation of banks," said Stefan Ingves, Chairman of the Basel Committee and Governor of Sveriges Riksbank.

At its March meeting, the Committee discussed its work programme and strategic priorities for 2018-19. The Committee's work programme centres on four broad themes:

• finalising existing policy initiatives and initiating targeted policy development;
• ensuring full, timely and consistent implementation of the Committee's post-crisis reforms;
• promoting strong supervision; and
• evaluating and monitoring the impact of post-crisis reforms, as well as assessing emerging risks.

A revised version of the work programme, including a version for publication, will be submitted to the Committee's oversight body, the Group of Central Bank Governors and Heads of Supervision, for endorsement.

The Committee discussed its current policy work and:

• agreed to consult on a set of limited and targeted revisions to the revised market risk framework published in January 2016;
• following its consultation on possible revisions to the assessment framework for global systemically important banks, the Committee agreed on a revised framework, which will soon be published; and
• agreed on a set of criteria and capital treatment for short-term simple, transparent and comparable securitisations.

As part of its efforts to ensure full, timely and consistent implementation of its reforms, the Committee agreed to explore ways to conduct preliminary consistency assessments of members' forthcoming draft rules to implement the Basel III standard, which was finalised in December 2017. The Committee agreed to commence developing a methodology for how such assessments might be conducted on the basis that such assessments would be voluntary.

The Committee also discussed its ongoing initiatives to promote strong supervision. In this context, the Committee approved a report for publication on early supervisory intervention practices.

Press release

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