Members of the Basel Committee on Banking Supervision (BCBS) recently met virtually to assess recent market developments and risks to the global banking system, and consider how supervision can be made more effective in the face of these challenges.
In that meeting, the members finalized an analytical progress report on lessons learned from the 2023 banking turmoil, commissioned by the Brazilian G20 Presidency. The report will be submitted to the G20 Finance Ministers and Central Bank Governors in October. The Committee also discussed progress on its work to improve supervisory effectiveness in the wake of the banking turmoil. As a part of those efforts, the BCBS is developing a suite of practical tools to support supervisors, with a focus on liquidity and interest rate risks, the sustainability of business models, and the importance of sound supervisory judgment.
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