SVB’s failure was swift and unexpected but was it a a case of serious mismanagement, the consequences of a unique operating model, flaws in the regulatory requirements, or their implementation, extraordinary circumstances or all of the above? Find out more.

Phil Evans explained the PRAs approach to implementing the latest updates to Basel requirements that were published a short time previously.

The PRA has published for consultation details of proposed amendments to its rules with regards the “final” changes to Basel requirements published by the BCBS in December 2017 and updates to the market risk framework published in January 2019.

The FSB has published the 2022 List of G-SIBs

On 10 November 2022 the FSB published Enhancing the Resilience of Non-Bank Financial Intermediation – Progress Report which provided an update on their work plan to address vulnerabilities with regards non-bank financial intermediation (NBFI) .

THE EBA has published final standards and guidelines on interest rate risk arising from non-trading activities

ON 13 October 2022 the FSB published its final report on Supervisory and Regulatory Approaches to Climate-related Risks.

In July 2022 the BCBS issued a proper setting out “High-level considerations on proportionality” which is intended to support decision making rather than providing new standards, guidelines or indications of best practice.

In June 2022 the BCBS published its Second consultation on the prudential treatment of cryptoasset exposures. This sets out a new draft section of the Basel Framework, SCO60 : Cryptoasset exposures. Consultation is open until September 2022 after which the BCBS aims to issue a final version prior to the year end.

In June 2022 the PRA published a consultation document CP6/22 - Model risk management principles for banks. Their aim is to help banks improve the effectiveness of the model risk management frameworks. The consultation is open until October 2022.

In June 2022 the BCBS published Principles for the effective management and supervision of climate-related financial risk. These are aimed primarily at internationally active banks but it is hoped they will be more widely adopted albeit on a proportionate basis.

In May 2022 the Bank of England published the results of the Biennial Exploratory Scenario issued in June 2021. This asked major UK financial institutions to assess the potential financial impacts of climate change.

In a speech in February 2022 Pablo Hernandez de Cos, the chair of the BCBS set out the committee’s priorities and high level workplace for 2022.