This panel “Supervision: Lessons Learned from the 2023 Banking Turmoil” features current and past leaders of supervisory bodies discussing the lessons learned from the 2023 banking turmoil and ongoing challenges in bank supervision.
Participants discussed the response to the 2023 crises, noting the resilience provided by the Basel III principles, which were more thoroughly implemented compared to 2008. Panelists considered the significance of governance and risk management, emphasizing the interconnectedness of financial and non-financial risks, particularly in light of rapid technological advancements and the evolving risk landscape. Participants also called for firms to proactively manage these risks and for supervisors to support and empower their teams with the necessary skills and tools.
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