Basel Committee reviews vulnerabilities and emerging risks

Published: Tuesday, 03 March 2020 09:40

The Basel Committee on Banking Supervision met in Basel on 26th-27th February 2020 to review risks impacting the banking system, advance a range of supervisory initiatives and promote the implementation of Basel III. Business continuity measures related to COVID-19 were discussed.

The Committee dedicated a portion of its meeting to discussing progress on a strategic review initiated last year. The Committee has consulted with members and stakeholders on its future priorities, its structure and its processes. Members discussed the feedback received and exchanged initial views on the way forward. The Committee aims to finalise its review in the course of the year. 

The Committee discussed the financial stability implications of the coronavirus  outbreak (COVID-19) for the banking system and exchanged information on the business continuity measures that banks and authorities have put in place. The Committee encourages banks and supervisors to remain vigilant in light of the evolving situation and notes the importance of effective cross-border information sharing and cooperation when dealing with such shocks.

The Committee recently established a high-level Task Force on Climate-related Financial Risks. The Committee discussed the Task Force's workplan and future deliverables, which include:

The Committee also reviewed a stocktake of members' current initiatives in this area.

The Committee agreed to publish the following documents:

More details.