On February 27-28th, the Basel Committee on Banking Supervision met to discuss policy and supervisory issues, and the extent to which members had implemented post-financial crisis reforms.
The Committee noted the implementation status of margin requirements for uncleared derivatives and it will publish in March a joint statement with the International Organization of Securities Commissions on certain implementation aspects of margin requirements.
In addition, support was reiterated for reforms of interest rate benchmarks. The Basel Committee approved a work plan to look at how these would interact with supervisory requirements.
The Basel Committee will also publish the following in March: (i) high-level supervisory expectations related to crypto-assets; (ii) a summary of the use of different practices across jurisdictions to apply their global minimum prudential standards proportionately; and (iii) follow-up reports and actions by member jurisdictions on the implementation of certain Basel III standards.
View the Basel Committee press release.
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