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Global banking regulators are proposing a change to the process of assessing whether large global banks are considered systemically important.

Currently, the methodology for determining whether a bank is considered globally systemically-important (G-SIB) — a classification that attracts added regulatory demands — is reviewed every three years. The most recent planned review, which was due in 2020, was suspended in light of the pandemic.

Now, the Basel Committee on Banking Supervision is proposing moving to an ongoing review process.

The proposal includes monitoring new processes or metrics for assessing systemic risk, examining the effectiveness of the G-SIB regime, and watching for structural changes that could affect the approach to G-SIBs.

Under the new procedure, the committee said that it would only make changes to the G-SIB oversight regime if its ongoing monitoring work “reveals evidence of material unintended consequences or material deficiencies.”

The proposed change is out for comment until Sept. 3.