BCBS 183

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Definition

BCBS 183 is a document published by the Basel Committee on Banking Supervision on December 2010 in the Supervision category.

Title

Sound Practices for the Management and Supervision of Operational Risk - consultative document.

Abstract

The Basel Committee on Banking Supervision today issued for consultation two papers on operational risk: Sound Practices for the Management and Supervision of Operational Risk and Operational Risk - Supervisory Guidelines for the Advanced Measurement Approaches.

Sound Practices for the Management and Supervision of Operational Risk updates the Committee's 2003 paper on this topic. The updated version highlights the evolution of operational risk management since 2003 and is based on best industry practice and supervisory experience. The principles outlined in the report are discussed within the context of three overarching themes: governance, risk management and disclosure.

The Committee also issued for consultation Operational Risk - Supervisory Guidelines for the Advanced Measurement Approaches. The regulatory capital adequacy framework envisages that, over time, the operational risk discipline will continue to mature and converge towards a narrower band of effective risk management and measurement practices. The guidance seeks to better achieve this by setting out supervisory guidelines relating to governance, data and modelling.

Comments on the reports should be submitted by 25 February 2011 by e-mail (baselcommittee@bis.org) or post (Secretariat of the Basel Committee on Banking Supervision, Bank for International Settlements, CH-4002 Basel, Switzerland).

Document Profile

See Also

Disclaimers

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).