Progress report on the implementation of principles for effective supervisory colleges.
The Basel Committee on Banking Supervision has issued an updated Progress report on the implementation of principles for effective supervisory colleges.
The Basel Committee first published Good practice principles on supervisory colleges in 2010 and issued a revised set of Principles for effective supervisory colleges in 2014. The Basel Committee monitors member jurisdictions' adoption of these principles and last published a progress report in July 2015, which identified three home-host related challenges, namely (i) Information-sharing (Principle 3), (ii) Coordinated risk assessment (Principle 5), and (iii) Crisis preparedness (Principle 7).
Since 2015, the Basel Committee has examined these topics in greater detail. Overall, the implementation of these principles has improved. Supervisors have made clear progress towards enhanced information-sharing as well as in coordinated risk assessment activities in supervisory colleges. In addition, in the last few years, there has been progress in colleges' contribution to crisis preparedness.
To address ongoing challenges related to the effectiveness of supervisory colleges, the Basel Committee's report identifies a set of sound practices, which include placing emphasis on the work between (or outside) formal college meetings and encouraging home and host supervisors to reach out to each other to clarify expectations.
- Publication Date: December 2017
- Publication Type: Implementation Reports
- Publication Status: Current
- Publication Category: Supervision
- Number of Pages: 30
- Keywords: Supervisory Colleges, Supervisory Cooperation
For definitive information on regulatory matters always consult primary sources, especially where it concerns legally binding rules and regulations.
The above regulatory document abstract is quoted verbatim in this Open Risk Manual entry and provided free of charge for the convenience of all internet users. There is no explicit or implicit endorsement of this web service by the Bank of International Settlements. The copyright of the included material rests with the original authors (Links to the original texts are duly provided).