Good practice principles on supervisory colleges - final paper.
The Basel Committee on Banking Supervision has issued a set of principleswhich aims to promote and strengthen the operation of supervisory colleges. Supervisory colleges are an important component of effective supervisory oversight of an international banking group. The paper Good Practice Principles on Supervisory Colleges supplements broader guidance issued by the Basel Committee on cross-border cooperation and information-sharing by outlining expectations for both home and host supervisors in relation to college objectives, governance, communication and information, as well as potential areas for collaborative work. Following a principle-based approach, the good practice principles are designed to allow adequate flexibility in the way that they are implemented for a wide range of banks across different jurisdictions. They are not intended to represent a definitive or exhaustive set of guidance regarding college functioning.
The financial crisis highlighted the importance of supervisory colleges in supporting the effective supervision of international banking groups. The Basel Committee intends to build upon its ongoing efforts to assist supervisors in running colleges as effectively as possible and continue to take stock of the evolving role and operation of colleges after the issurance of these principles.
A consultative versionof this paper was released for public commentin March 2010.
- Publication Date: October 2010
- Publication Type: Guidelines
- Publication Status: Superseded
- Publication Category: Cross-Border Issues
- Number of Pages: 29
- Keywords: Supervisory Cooperation, Home-host Supervision, Consolidated Supervision, Information Sharing, Cross-border Supervision
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