ENP Newswire -
Release date- 26062014 -
The revisions reflect the experience of Committee members in applying the original principles, published in 2010, together with emerging good practice in the role and operation of colleges. They draw on consultations with home and host supervisors, as well as internationally active banks.
The financial crisis highlighted the important role played by supervisory colleges in the effective supervision of international banking groups. The principles aim to promote and strengthen international cooperation and supervision of internationally active banks by providing guidelines to support the operation of supervisory colleges. They supplement broader guidance issued by the Basel Committee on cross-border cooperation and information-sharing.
Key revisions include:
Greater emphasis on ongoing collaboration and information-sharing, as well as the expectation that home and host supervisors will put in place appropriate mechanisms and sufficient resources for effective and timely information exchange;
Differentiation between colleges and crisis management groups (CMGs) for banks that are subject to both structures, eg systemically important banks, and guidance on possible communication and coordination between the college and the CMG on crisis preparedness; and
Alignment across the principles on how macroprudential information is shared and used.
A consultative version of this paper was released for public comment in
Most Popular Stories
- Homeowners More Satisfied With Mortgage Servicers
- Discounts Help U.S. Auto Sales Sizzle in July
- Russia, Ukraine Now Face Off Over Football Clubs
- Colorado Issuing Immigrant Driver's Licenses
- Recruiting and Keeping the Perfect Employee
- MassMutual Teams Up With ALPFA
- Chrysler U.S. Sales in July Hit 9-Year High
- Fiat Looks Abroad After Chrysler Merger Vote
- Dow Wipes Out Gains for the Year: What Happens Now?
- House Shelves Immigration Bill, Goes on Vacation