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ARTICLE · 06 APRIL 2023

Climate, Crypto And Updates To Core Principles: BCBS Focus Areas For 2023

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Following the publication of its Work Programme and Strategic Priorities for 2023/24 in December 2022, the Basel Committee on Banking Supervision met earlier this month and confirmed...

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Following the publication of its Work Programme and Strategic Priorities for 2023/24 in December 2022, the Basel Committee on Banking Supervision met earlier this month and confirmed three key work initiatives for 2023.

Building on commitments made in its work programme, the BCBS plans to:

  • Publish a consultation paper on a Pillar 3 disclosure framework for climate-related financial risks by the end of 2023.
  • Consult on changes to its Core Principles for effective banking supervision by mid-2023 (the last update was in September 2012) - outsourcing, and the links between banks and non-bank financial intermediation, are expected to be the subject of additional supervisory principles and guidance respectively.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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