Basel Committee Releases Revised Core Principles for Banking Supervision
September 14, 2012
On September 14, a group of banking supervisors and central bankers representing more than 100 countries endorsed the Basel Committee’s revised Core Principles for Effective Banking Supervision. The revised Core Principles (i) assign supervisory attention on a proportionate basis, in line with the risk profile and systemic importance of banks; (ii) apply a broad financial system perspective that considers both the macro- and microprudential elements of effective supervision; (iii) adopt new crisis preparation, management strategies, and orderly resolution frameworks intended to mitigate the impact of bank failures; and (iv) encourage market discipline through supervisory practices in the areas of corporate governance, disclosure, and transparency.
Basel Committee: Core Principles for Effective Banking Supervision – September 14, 2012