The Basel Committee on Banking Supervision announced a series of steps this week to further strengthen the resilience of the international banking system.
The initiatives, which support the Financial Stability Forum’s recommendations put forward to the G7 last week, include enhancing various aspects of the Basel II Framework to ensure sufficient capital, capture off-balance sheet exposures more effectively and improve regulatory capital incentives.
Chairman of the Basel Committee and president of Netherlands Bank Nout Wellink said strong capital cushions, robust liquidity buffers, strong risk management and better market discipline through transparency would be key building blocks to ensuring a more resilient system.
“Supervisors cannot predict the next crisis but they can carry forward the lessons from recent events to promote a more resilient banking system that can weather shocks, whatever the source,” he said.
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