Ingves: Finishing the job: next steps for the Basel Committee

Date 31/01/2014

The past year, the Basel Committee has been very productive. The Committee has for instance published more policy documents and standards for banks than in previous years. Nevertheless, much still remains to be done and the Committee has no plans to rest on its laurels. These comments were made by Governor of the Riksbank Stefan Ingves in his role as Chairman of the Basel Committee on Banking Supervision (BCBS) when speaking at a conference organised by the BCBS, Financial Stability Institute and the Reserve Bank of South Africa in Cape Town, South Africa, on 31 January 2014.

 

Mr Ingves emphasised in particular the four key strategic priorities for the Committee in the coming two years: bringing the post-crisis reform agenda to a satisfactory conclusion, monitoring and evaluating the implementation of reforms, dealing with the inconsistencies found in the banks' own calculations of their risk-weighted assets, and last but not least, continuing the task of promoting effective supervision. An important project in the Basel Committee's working plan is the completion of the regulatory framework for banks' structural liquidity risks, Net Stable Funding Ratio (NSFR). They also intend to continue conducting and developing the country-specific assessments of how countries apply the Basel regulations (RCAPs) until all of the Basel Committee's member jurisdictions have been assessed. Finally, Mr Ingves pointed out that it will inevitably be necessary to adjust some aspects of the regulations and that the work on bringing the reforms "ashore" will require just as much effort and commitment as launching them in the first place.

 

Read the whole speech: Finishing the job: next steps for the Basel Committee