BCBS sets out global standards 09 April 2019Basel Reporter: Maddie Saghir
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The Basel Committee on Banking Supervision (BCBS) has launched a new section on its website that sets out a consolidated version of its global standards for the regulation and supervision of banks.
The committee is welcoming comments welcoming comments on the accuracy and clarity of the consolidated framework, and on the proposed technical amendments to the standards.
The consolidated framework aims to improve the accessibility of the Basel Committee's standards and to promote their consistent global interpretation and implementation.
According to the committee, the publication of the standards in the new format has focused on reorganising existing requirements, not introducing new ones.
Certain inconsistencies were revealed in the preparation of the framework between Basel requirements as well as ambiguities that need to be addressed through minor policy changes.
The framework has been published initially in draft form, together with a consultative document to gather feedback on the website and on various proposed technical amendments to the standards.
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