Global banking regulators say that policymakers in five major jurisdictions — the United States, Europe, Japan, China and Switzerland — have largely adopted measures designed to address the systemic risks posed by large, interconnected financial institutions.
The Basel Committee on Banking Supervision on Thursday published a series of reports that assesses the status of the implementation of new rules for both global- and domestic- systemically important banks (G-SIBs and D-SIBs).
The committee evaluated the G-SIB and D-SIB frameworks in the five jurisdictions that are currently home to G-SIBs. At this point, none of the big Canadian banks have made that list, which is updated each November.
“Overall, the outcome of the assessment is positive,” the committee says in a statement. “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.”
As for their implementation of the D-SIB principles, the D-SIB frameworks that have been implemented in the various jurisdictions, are “broadly aligned” with the Basel Committee’s principles, the committee says. However, it found “some variation” across jurisdictions in the sorts of additional requirements and policy measures that are being applied to D-SIBs.
The reports represent part of a series of publications that examine the implementation of Basel standards under its program to assess the consistency of standards between different jurisdictions.