Wellink warns about gap between risk management and market evolution
Updated Basel principles meet approval MERIDA, MEXICO – International banking regulators, meeting in Mexico, endorsed 25 updated Basel core principles for effective banking supervision, while the chairman of the Basel Committee on Banking Supervision warned of challenges to come.
At the biennial International Conference of Banking Supervisors (ICBS), central bankers and officials from 120 countries approved the new principles. Changes include a new principle addressing risk management across all areas, and strengthened criteria for assessing interest rate, liquidity and operational risk. Principles on money laundering, terrorism and fraud have also been reinforced, as has the need for greater cross-border co-operation between banking authorities.
But Nout Wellink
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