The Basel Committee on Banking Supervision has published reports assessing the implementation of the Committee’s frameworks for global and domestic systemically important banks (G-SIBs and D-SIBs). The Committee has evaluated the G-SIB and D-SIB frameworks in the five jurisdictions that are currently home to G-SIBs: China, the European Union, Japan, Switzerland and the United States. This is the first assessment to be conducted on a cross-jurisdictional basis, with these five jurisdictions being simultaneously assessed against the Basel framework.
These reports form part of a series of publications on Basel Committee members’ implementation of Basel standards under the Committee’s Regulatory Consistency Assessment Programme (RCAP). The RCAP assesses the consistency and completeness of a jurisdiction’s adopted standards and the significance of any deviations from the Basel framework. The RCAP does not take account of a jurisdiction’s bank supervision practices, nor does it evaluate the adequacy of regulatory capital for individual banks or a banking system as a whole.
Overall, the outcome of the assessment is positive. The implementation of the Basel G-SIB framework is found to be “compliant” in all five of the jurisdictions where G-SIBs are currently based. This is the highest of the four possible assessment grades.
Consistent with the principles-based nature of the Committee’s D-SIB framework, the reports do not include a graded assessment of the implementation of the D-SIB principles. Instead, the reports outline the D-SIB frameworks implemented in China, the European Union, Japan, Switzerland and the United States. Overall, where detailed D-SIB frameworks have been implemented, those frameworks are found to be broadly aligned with the Committee’s D-SIB principles, although there is some variation across these jurisdictions in the additional requirements and policy measures applied to D-SIBs.
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