In January 2015, the Basel Committee released and published the results of a second self-assessment by the Global Systematically Important Banks (G-SIBs) in adopting the BCBS 239 principles. In that report and in my last post, I noted that 46% of the G-SIBs stated they would not be fully compliant with all 11 Principles by the 2016 deadline. This was up from 33% as reported in the first self-assessment in December 2013.
It was a little more than year ago when the Basel Committee of Banking Supervision (BCBS) released the results of a mandatory self-assessment by all 30 Global Systemically Important Banks (G-SIBs) on their progress with BCBS 239. The intent of the self-assessment was simple. The Basel Committee wanted the G-SIBs to establish a baseline and define a roadmap towards compliance. Furthermore, to ensure a consistent and effective implementation of the principles, the Committee instituted a coordinated approach with national supervisors to monitor and assess the G-SIBs progress right up to forthcoming January 1, 2016 deadline. Continue reading BCBS 239: On the Road to Compliance