Basel Committee issues principles on home-host information sharing The Basel Committee on Banking Supervision (BCBS) has issued a paper on general principles for information-sharing between home and host supervisors for Basel II.
The two relevant principles are that a bank will be held accountable by its home supervisor (principle two) yet subsidiary banks may have to meet specific needs of its host country.
The BCBS has advocated that home and host supervisors continue to work with the industry, and has placed the onus for Basel II compliance firmly on the financial institutions. “While communication between home and host supervisors is important, banks have the primary role to play in implementing Basel II and in providing relevant information to home and host supervisors to allow them to meet their responsibilities,” said the report.
These principles result from home-host information sharing for
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