In a speech at the Eurofi High Level Seminar last week, Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision (BCBS), argued that the bank failures of 2023 made clear the need for adherence to Basel III standards and a commitment to effective supervision.
"[T]here is one recurring theme throughout crises: it is strong and healthy banks that are able to withstand crises and continue to lend," de Cos said. “That, in turns, requires having robust regulation and strong supervision as a foundation... This is why, in response to last year's banking turmoil, the Committee is prioritising work to strengthen supervisory effectiveness and identifying issues that could merit additional guidance at a global level.”
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