The Basel Committee on Banking Supervision today issued a paper setting forth general principles for sharing of information between home country and host country supervisors in the implementation of the Basel II capital framework. The paper highlights the need for home and host supervisors of internationally active banking organisations to develop and enhance pragmatic communication and cooperation with regard to banks' Basel II implementation plans. The paper also sets out practical examples of information that could be provided by banks, home supervisors and host supervisors. The paper, primarily addressed to banking supervisors, also describes the role of banking organisations in this process.
In parallel, the BIS released a revised version of the draft issued for consultation in November 2005 which addresses the question of information sharing between home and host supervisors under the new Capital Framework. Discussions have confirmed the need to develop more robust information-sharing arrangements between home and host supervisors.
A key feature of this framework is that international banking groups need to be supervised on a consolidated basis, covering all aspects of the business, domestic and cross-border. Consolidated supervision of international banking groups requires effective cooperation and information exchange between home supervisors and host supervisors and it is hoped that improvements in this area will be one of the side-effects of Basel II.
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Summary of comments received (November 2005 consultation)
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