Basel Committee publishes revised Core Principles for effective banking supervision

The Basel Committee on Banking Supervision (BCBS) has finalised its revised Core Principles for effective banking supervision, which were endorsed by banking supervisors and central bankers representing more than 90 jurisdictions at the 23rd International Conference of Banking Supervisors.

The amendments reflect supervisory developments affecting the banking sector since 2012 (when the Core Principles were previously updated) and cover topics such as financial risks, operational resilience, climate-related risks, digitalisation and non-bank financial intermediation.

The revised Core Principles standard is effective immediately.