Basel Committee meets to advance supervisory and regulatory initiatives and discuss banking risks
XLF•The Basel Committee approved the annual assessment exercise for global systemically important banks, revisions to reduce year-end window-dressing and a final standard for machine-readable Pillar 3 disclosures. It also agreed to consult on additional guidance for interest rate risk and update its cryptoasset exposure review by year-end.
1. Committee decisions
The Basel Committee met to advance supervisory and regulatory initiatives and discuss risks and vulnerabilities to the global banking system. It approved the annual assessment exercise for global systemically important banks, revisions intended to reduce year-end window-dressing and a final standard for machine-readable Pillar 3 disclosures.
2. Further work planned
The committee agreed to consult on additional Pillar 2 guidance for interest rate risk in the banking book and to provide an update by year-end on its targeted review of the prudential standard for banks’ cryptoasset exposures.
