BCBS 49 B
Contents
Definition
BCBS 49 B is a document published by the Basel Committee on Banking Supervision on May 1999 in the Core Principles category.
Title
Core Principles Methodology – consultative document.
Abstract
Executive summary
The Core Principles for Effective Banking Supervision have become the most important global standard for prudential regulation and supervision. The vast majority of countries have endorsed the Core Principles and have declared their intention to implement them. As a first step to full implementation, there should be an assessment of the current situation of a country's compliance with the Principles. Such an assessment should identify weaknesses in the existing system of supervision and regulation, and form a basis for remedial measures by government authorities and the bank supervisors. Such assessments are typically conducted by the countries themselves or by various outside parties.
The Basel Committee on Banking Supervision has decided not to make assessments of its own due to a lack of necessary resources; however, the Committee is prepared to assist in other ways, inter alia by providing advice and training. Committee members may also individually participate in assessment missions conducted by other parties such as the IMF, the World Bank, regional development banks, regional supervisory organisations and private consultants. "Peer reviews" are also possible, whereby supervisory experts from one country assess another country and vice versa.
In order for the assessments to be objective and as uniform as possible, there should be harmonised standards for the fulfilment of the Core Principles. Experience has already shown that the Principles may be interpreted in widely diverging ways, and incorrect interpretations may result in inconsistencies among assessments.
Full document: PDF, 63 pages
Document Profile
- Publication Date: May 1999
- Publication Type: Consultative
- Publication Status: Closed
- Publication Category: Core Principles
- Number of Pages: 63
- Keywords: Basel Core Principles
See Also
Disclaimers
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