On November 29, 2018, Central bankers and banking supervisors from over eighty jurisdictions met in Abu Dhabi, United Arab Emirates to discuss a range of policy and supervisory topics.
On November 26-27, 2018, there was a meeting of the Basel Committee on Banking Supervision at which it was agreed that a consultation would take place next year to discuss a framework to consolidate the Committee's standards into a single integrated structure. Moreover, a number of items were agreed:
I. A set of targeted revisions to the market risk framework which is due to be implemented by January 1, 2022.
II. A consultation on potential enhanced disclosures to reduce bank window-dressing behavior related to leverage ratio will be pursued. The Basel Committee issued a statement in October declaring unacceptable the alleged tendency in banks to engage in so-called window-dressing by temporarily reducing transaction volumes around key reference dates, which has supposedly the effect of allowing banks to report and publicly disclose better leverage ratios.
III. A set of revisions to the Pillar 3 disclosure framework will be published in December.
IV. A report will be published in December setting out the range of bank, regulatory and supervisory cyber-resilience practices across jurisdictions.
The press release is available at: https://www.bis.org/press/p181129.htm and details of the Basel Committee's
consultation on the revised market risk framework are available at: https://finreg.shearman.com/basel-committee-on-banking-supervision-highlights .
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