Comprehensive strategy to address the lessons of the banking crisis announced by the Basel Committee

20.11.08 - 18:56 ... source : Bank for International Settlements (BIS)

... 20 November 2008 The Basel Committee on Banking Supervision today announced a comprehensive strategy to address the fundamental weaknesses revealed by the financial market crisis related to the regulation, supervision and risk management of internationally-active banks. Nout Wellink, Chairman of the Basel Committee said that "the Basel Committee's work programme is well advanced and provides practical responses to the financial stability concerns raised by policy makers related to the banking sector." Mr Wellink added that "the primary objective of the Committee's strategy is to strengthen capital buffers and help contain leverage in the banking system arising from both on- and off-balance sheet activities." It will also promote stronger risk management and governance practices to limit risk concentrations at banks. "Ultimately, our goal is ...» Next (HTML)