The Basel Committee on Banking Supervision (BCBS) has initiated a public consultation on proposed revisions to its Core Principles for Effective Banking Supervision. The Core Principles, originally established in 1997 and updated in 2012, are the recognized minimum standards for prudent regulation and supervision of banks and banking systems.
The BCBS embarked on a review of the Core Principles in April 2022, aiming to incorporate changes reflecting advancements in supervision and regulation, structural shifts impacting banking systems, and insights garnered from Financial Sector Assessment Programs (FSAPs). FSAPs are reviews conducted by the International Monetary Fund (IMF) and World Bank into the resilience of a country's financial sector.
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