Launch of the consolidated Basel Framework.
In April 2019, the Basel Committee issued a draft version of the consolidated Basel Framework. The framework brings together all of the Basel Committee's global standards for the regulation and supervision of banks and presents them on a new section of its website. The framework comprises 14 "standards", setting out requirements on specific topics, each of which is further divided into "chapters". This modular format will make it easier to maintain the standards over time.
The publication of the standards in the new format of the consolidated framework has focused on reorganising existing requirements, not introducing new requirements or otherwise amending the standards previously agreed and published by the Basel Committee. The preparation of the standards in the new format did, however, reveal some inconsistencies between Basel requirements as well as ambiguities that needed to be addressed through minor policy changes. Therefore, concurrent with the publication of the draft consolidated framework, the Basel Committee published a consultative document that outlined the proposed changes.
The Committee has reviewed the feedback to the consultation and finalised the first (non-draft) version of the consolidated framework. Today's publication sets out the changes that the Committee agreed to make relative to the draft version of the framework and lists the new frequently asked questions and answers (FAQs) added to the framework since its publication in draft form in April 2019.
For an overview of the structure and features of the Basel Framework, please click here.
- Publication Date: December 2019
- Publication Type: Standards
- Publication Status: Consolidated
- Publication Category: Credit Risk
- Number of Pages: 11
- Keywords: Credit Risk, Market Risk, Operational Risk
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