As of the end of 2025, Basel III risk-based capital and leverage ratios remained stable for large internationally active banks compared with June 2025. The average Liquidity Coverage Ratio (LCR) of Group 1 banks improved slightly, while the Net Stable Funding Ratio (NSFR) decreased slightly. The average impact of the…
Why this matters
This is a Basel Committee monitoring exercise report published by the BIS, presenting data on Basel III compliance as of end-2025. It is informational in nature (not a new rule or consultation), but carries significance as it tracks implementation of binding prudential standards across 149 banks including G-SIBs.
CPMI-IOSCO are seeking input from stakeholders on a cyber resilience toolkit for financial market infrastructures (FMIs) and on risks to FMIs from third-party service providers. The Cyber resilience toolkit: practical considerations for FMIs supports FMIs in strengthening their cyber resilience frameworks. The…
Why this matters
This is a formal consultation by CPMI-IOSCO seeking stakeholder input on two interconnected deliverables: a cyber resilience toolkit for FMIs and a discussion paper on third-party service provider risks. The toolkit complements existing PFMI principles and provides practical guidance on operational resilience.
The sustainability of the AI boom, financial vulnerabilities and strained public finances are among pressure points facing the global economy, along with the return of inflation. The interplay of record-high public debt with the increasing role of highly-leveraged hedge funds creates a new sovereign-financial…
Why this matters
This is a BIS press release accompanying its Annual Economic Report 2026. It is informational/advisory in nature (not a binding rule, consultation, or enforcement action) but carries significant regulatory signals about emerging risks and policy priorities: fiscal-financial stability nexus, non-bank leverage (hedge...
The sustainability of the AI boom, financial vulnerabilities and strained public finances are among pressure points facing the global economy, along with the return of inflation.
Why this matters
This is a BIS media release accompanying its Annual Economic Report 2026. It identifies four pressure points (inflation, AI sustainability, financial vulnerabilities, fiscal strain) and emphasizes policy priorities including price stability, financial stability beyond banking, and fiscal discipline.
Digital innovation is transforming finance, potentially enabling greater competition and efficiency in payment systems and financial intermediation. However, it also poses new macro-financial challenges and raises the broader question of how to preserve trust in money in the digital age...
AI Analysis
BIS published a 23 June 2026 press release summarizing a special chapter of its Annual Economic Report 2026 on the future monetary and financial system. The message for compliance teams is that BIS favors integrating tokenisation into the existing two-tier system rather than treating stablecoins as the core monetary instrument, because current stablecoin designs do not sufficiently preserve trust, singleness, redeemability, or financial integrity.
Key dates
2026-06-23
BIS published the press release and pre-released the relevant Annual Economic Report 2026 chapter
2026-06-28
BIS plans to publish the full Annual Economic Report 2026 and the BIS Annual Report 2025/26
Suggested considerations
Compliance teams may wish to assess whether any stablecoin-related business line depends on assumptions about parity redeemability, interoperability, or reserve quality that BIS identifies as weak points.
Firms involved in tokenisation initiatives may wish to map their proposed operating model against the two-tier framework BIS endorses, especially where central bank money, commercial bank money, and tokenised assets would interact on programmable platforms.
Banks and payment providers may wish to review funding, liquidity, and settlement assumptions for any products that could materially increase stablecoin usage or tokenised-money circulation.
Crypto-facing firms may wish to examine whether current controls for financial crime, ledger interoperability, and customer redemption rights would satisfy a more stringent supervisory approach if stablecoins are used at scale.
Market infrastructure and capital markets firms may wish to consider whether a unified-ledger or tokenised-deposit architecture could reduce reconciliation and settlement frictions in cross-border or wholesale workflows.
Risk and policy teams may wish to monitor BIS follow-on publications, including the full Annual Economic Report 2026, for more detailed supervisory or implementation signals when it is published on 2026-06-28.
What changed
The publication is a policy signal, not a binding rule. BIS argues that tokenisation—digital representation of assets on programmable platforms—can be embedded in the current monetary architecture, where central banks provide the monetary anchor and commercial banks provide services to the public, to enable programmable payments and other efficiencies.
BIS also states that current stablecoin designs fall short of the key properties of money, particularly singleness, meaning the ability to redeem different forms of money exactly at par for central bank money.
Compliance impact
The publication has strategic significance but no direct binding compliance obligations. Its practical impact is that supervisors and policymakers may increasingly scrutinize stablecoin redeemability, reserve quality, financial crime controls, and interoperability, while encouraging tokenised-money models that preserve central bank money as the anchor.
Digital innovation is transforming finance, potentially enabling greater competition and efficiency in payment systems and financial intermediation. However, it also poses new macro-financial challenges and raises the broader question of how to preserve trust in money in the digital age.
Why this matters
This is a BIS media release accompanying a special chapter of the Annual Economic Report 2026. It articulates high-level policy direction on stablecoins and tokenisation, identifies structural weaknesses in current stablecoin designs, and calls for coordinated global regulatory efforts on two fronts: near-term...
The Basel Committee on Banking Supervision today published a range of practices report on information and communication technology (ICT) risk management. ICT is a key component of operational risk management, playing a vital role in supporting the broader goal of achieving operational resilience.
Why this matters
This is a Basel Committee publication of a range of practices report (not binding rules, but authoritative guidance) addressing ICT risk management as a component of operational resilience. The content is informational/guidance-focused rather than a consultation or final rule, and targets banks specifically.
Basel Committee publishes report on information and communication technology risk management.
Why this matters
This is a published report from the Basel Committee on Banking Supervision (BCBS) analyzing ICT risk management practices across jurisdictions. The content explicitly addresses operational resilience and ICT/cyber risk in banking.
The Basel Committee has published a report describing a range of observed information and communication technology (ICT) risk management practices across jurisdictions to address non-malicious ICT incidents.
Why this matters
This is a media release announcing publication of a Basel Committee range of practices report on ICT risk management. The report documents observed practices across jurisdictions and is intended as a reference for banks and supervisory authorities.
The Project Agorá prototype demonstrates how tokenisation and programmable technologies can address long-standing inefficiencies in wholesale cross-border payments at scale, while preserving the safety and integrity of settlement in central bank reserves.
Why this matters
This is a press release and research report from the BIS announcing Project Agorá findings on tokenisation for wholesale payments. It is informational and exploratory in nature (explicitly noted as experimental), not a binding obligation or final rule.
The Project Agorá prototype demonstrates how tokenisation and programmable technologies can address long-standing inefficiencies in wholesale cross-border payments at scale, while preserving the safety and integrity of settlement in central bank reserves.
Why this matters
The content is a media release and research report from the BIS Innovation Hub detailing Project Agorá's exploratory findings on tokenised wholesale cross-border payments.
Agrees to publish range of practices report on information and communication technology risk management. Progresses its targeted review of the prudential standard for banks' cryptoasset exposures. Considers targeted updates of its principles on liquidity risk.
Why this matters
This is a Basel Committee press release documenting meeting outcomes and regulatory work in progress. The Committee approved publication of an ICT risk management practices report (addressing operational resilience), is progressing a targeted review of cryptoasset prudential standards, and is considering updates to...
Agrees to publish range of practices report on information and communication technology risk management. Progresses its targeted review of the prudential standard for banks' cryptoasset exposures. Considers targeted updates of its principles on liquidity risk.
Why this matters
This is a media release documenting Basel Committee meeting outcomes. The content supports three primary regulatory initiatives: (1) publication of ICT risk management practices report addressing operational resilience, (2) ongoing targeted review of cryptoasset prudential standards with updates promised later in...
BIS Board of Directors elects Fabio Panetta, Governor of the Bank of Italy, as its new Chair Gabriel Galípolo, Governor of the Central Bank of Brazil, is appointed Chair of the meeting of Governors of major emerging market economies Michele Bullock, Governor of the Reserve Bank of Australia, is appointed Chair of the…
Why this matters
The content is purely informational, announcing the election of central bank governors to leadership roles at the BIS and its committees. It contains no new rules, guidance, enforcement actions, or obligations affecting regulated firms.
Press release from May 12, 2026 on central bank governors appointed to lead the BIS board of directors, the meeting of governors of major emerging market economies, the asian consultative council and the committee of the global financial system.
Why this matters
The content is a media release announcing leadership appointments at the BIS (Fabio Panetta as Board Chair, and three other central bank governors to key BIS groups).
CPMI-IOSCO is seeking input from interested stakeholders on amendments to CCP-related resilience guidance and public quantitative disclosures requirements.
AI Analysis
CPMI and IOSCO have launched a consultation on targeted amendments to the 2017 CCP resilience guidance and the 2015 public quantitative disclosure (PQD) standards for central counterparties. The changes are intended to implement selected proposals from the January 2025 BCBS-CPMI-IOSCO report on initial margin transparency and responsiveness, with comments due by 30 June 2026.
Key dates
2026-05-06
CPMI-IOSCO published the consultation on updated CCP resilience guidance and PQD disclosures
2026-06-30 Deadline
Deadline to submit consultation comments to the CPMI and IOSCO secretariats
Suggested considerations
Compliance teams may wish to review the January 2025 BCBS-CPMI-IOSCO initial margin report to map likely changes to CCP resilience guidance and PQD disclosure expectations.
CCPs may wish to assess whether their current margin simulation tools, responsiveness metrics, override governance, and public disclosures could support the kind of targeted enhancements described in the consultation.
Clearing members and clients may wish to evaluate how more detailed CCP disclosures could affect margin forecasting, model validation, and due diligence workflows.
Firms may wish to prepare consultation submissions by the 30 June 2026 deadline, particularly if they have views on feasibility, data granularity, disclosure lags, or governance implications.
Compliance and legal teams may wish to monitor whether the final amendments create new reporting or disclosure obligations under the revised CCP guidance and PQD standards.
What changed
The consultation proposes targeted additions to the CPMI-IOSCO 2017 guidance on the resilience of central counterparties and to the 2015 PQD standards for CCPs. The stated purpose is to incorporate relevant elements of the January 2025 BCBS-CPMI-IOSCO final report on transparency and responsiveness of initial margin in centrally cleared markets.
The areas specifically addressed are simulation tools, the measurement of initial margin responsiveness, margin model governance frameworks, the use of margin model overrides, and CCP public disclosures.
Compliance impact
The publication is a consultation, so the immediate legal severity is moderate rather than binding, but it signals concrete supervisory direction on CCP margin transparency and governance. If adopted, the amendments could increase disclosure granularity and scrutiny of margin-model responsiveness, simulation tools, and override controls for CCPs and their clearing relationships.
CPMI-IOSCO is seeking input from interested stakeholders on amendments to CCP-related resilience guidance and public quantitative disclosures requirements.
Why this matters
This is a formal consultation by CPMI-IOSCO on proposed amendments to existing CCP resilience guidance (2017) and public quantitative disclosure standards (2015), incorporating proposals from the January 2025 BCBS-CPMI-IOSCO report on initial margin transparency.
Press release: Statement on the appointment of Hyun Song Shin as Governor of the Bank of Korea
Why this matters
The content is a press release announcing the appointment of Hyun Song Shin as Governor of the Bank of Korea and related internal BIS management changes. It is purely administrative and informational in nature, containing no new rules, guidance, enforcement actions, or obligations affecting regulated firms.
The General Manager of the BIS, Pablo Hernández de Cos, made the following statement today on the announcement that Hyun Song Shin has been appointed to serve as Governor of the Bank of Korea.
Why this matters
The content is a media release announcing the appointment of Hyun Song Shin as Governor of the Bank of Korea and related internal BIS management changes. It is purely administrative and informational in nature, containing no new rules, guidance, enforcement actions, or regulatory obligations.
The UK's framework for systemically important payment systems and central securities depositories/securities settlement systems is complete and consistent with the CPMI-IOSCO Principles for financial market infrastructures (PFMI) in most aspects. The CPMI-IOSCO assessment identified some areas for improvement where…
Why this matters
This is a published assessment report from CPMI-IOSCO evaluating UK implementation of the Principles for Financial Market Infrastructures as of September 2023. The report confirms broad compliance for payment systems but identifies improvement areas for CSDs/SSSs, particularly in risk and governance principles.
The UK's framework for systemically important payment systems and central securities depositories/securities settlement systems is complete and consistent with the CPMI-IOSCO Principles for financial market infrastructures (PFMI) in most aspects.
Why this matters
This is a published assessment report evaluating UK implementation of international financial market infrastructure standards (PFMI) as of September 2023. The report confirms broad compliance but identifies improvement areas in risk and governance principles for payment systems and securities settlement...
John C. Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, is to continue as Chair of the Bank for International Settlements' Markets Committee.
Why this matters
The content is a press release announcing the extension of John C. Williams' term as Chair of the BIS Markets Committee for a second three-year term. This is a straightforward governance/personnel matter with no new regulatory requirements, policy guidance, or enforcement action.
John C. Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, is to continue as Chair of the Bank for International Settlements' Markets Committee.
Why this matters
The content is a media release announcing the extension of John C. Williams' term as Chair of the BIS Markets Committee for a second three-year period. This is a straightforward governance/appointment matter with no new regulatory requirements, policy changes, or enforcement actions.
Banks' liquidity ratios increased slightly while Basel III risk-based capital and leverage ratios are stable in the first half of 2025. The average impact of the Basel III framework on the Tier 1 minimum required capital (MRC) of Group 1 banks decreased, driven by implementation progress. The newly expanded…
Why this matters
This is a BIS Basel III monitoring exercise publication reporting on H1 2025 data for large internationally active banks (Group 1) and smaller banks (Group 2). The content covers liquidity ratios (LCR, NSFR), risk-based capital, leverage ratios, and introduces expanded cryptoasset exposure reporting.
The report sets out the impact of the Basel III framework, including the December 2017 finalisation of the Basel III reforms and the January 2019 finalisation of the market risk framework.
Why this matters
This is a Basel Committee monitoring report (QIS - Quantitative Impact Study) analyzing the impact of Basel III framework reforms on large internationally active banks.
This document sets out a final technical amendment to the Basel Framework. Technical amendments are defined as changes in standards that are not substantial in nature but that cannot be unambiguously resolved based on the current text. The amendment relates to the standardised approach to operational risk.
AI Analysis
The Basel Committee finalized a technical amendment to the Basel Framework on the standardized approach to operational risk, following consultation in June 2025. It also finalized an FAQ on the standardized approach to market risk and made consequential FAQ updates, with the revised text incorporated into the consolidated Basel Framework.
Key dates
2025-06-01
Basel Committee consultation on the proposed technical amendment was issued in June 2025
2026-03-23
Basel Committee finalized the technical amendment and related FAQs
2029-03-23 Deadline
Latest date by which Basel Committee members agreed to implement the technical amendment
Suggested considerations
Compliance teams may wish to map the amended operational risk text into internal capital calculation policies and control documentation.
Firms should consider whether any existing business indicator calculations or interpretations rely on the previously ambiguous operational risk wording.
Risk and regulatory reporting teams may wish to review the finalized market risk FAQ and related FAQ updates for any knock-on effects on methodology documentation.
Implementation planning may need to account for local transposition or supervisory timelines, with the Basel Committee indicating implementation within three years at the latest.
What changed
The technical amendment is limited to a clarification in the standardized approach to operational risk rather than a substantive policy rewrite. The source summary indicates the amendment addresses an ambiguity in the existing text that could not be resolved unambiguously under the prior wording, and it specifically relates to the operational risk standardized approach. The document also includes a finalized response to one FAQ on the standardized approach to market risk, together with consequential amendments to related FAQs.
Compliance impact
The practical impact appears moderate rather than transformative because the Basel Committee characterizes the change as a technical amendment, not a substantial new standard. However, because it affects the Basel Framework text used for operational risk capital calculations, firms may need to adjust methodology interpretation and documentation to avoid inconsistencies with supervisory expectations.
Following the nomination of Hyun Song Shin as Governor of the Bank of Korea, the BIS today announced that Mr. Shin will step back from his duties with immediate effect. In the interim, the Monetary and Economic Department will be led by Frank Smets, who will serve as Acting Head.
Why this matters
The content is a press release announcing the nomination of Hyun Song Shin as Governor of the Bank of Korea and his consequent departure from the BIS, with interim leadership arrangements. This is administrative and personnel-related rather than substantive regulatory guidance or policy.
Ben Gully will lead the international standard setter's Secretariat in Basel. Mr Gully has been appointed for a three-year term, starting in August. He is currently Deputy Superintendent at the Office of the Superintendent of Financial Institutions (OSFI) in Canada.
Why this matters
The content is purely administrative—announcing Ben Gully's appointment as Secretary General of the Basel Committee effective August 2026. While the Basel Committee is the primary global standard setter for bank prudential regulation, this update contains no new rules, guidance, consultations, or enforcement actions.
Hélène Rey, Professor of Economics at London Business School, appointed as Economic Adviser and Head of the Monetary and Economic Department of the BIS. Ms Rey is appointed for a five-year term, effective September 2026. She will lead the economics work of the Bank and join its Executive Committee.
Why this matters
The content is a press release announcing Hélène Rey's appointment as Economic Adviser and Head of the Monetary and Economic Department at the BIS, effective September 2026. It is purely administrative and informational in nature, documenting a leadership transition at an international financial institution.
Group of Central Bank Governors and Heads of Supervision (GHOS) welcome the progress to fully implement Basel III. GHOS endorsed targeted reviews of the Committee's prudential standards for cryptoassets and global systemically important banks.
Why this matters
This is a GHOS press release announcing implementation progress on Basel III (affecting prudential capital requirements for banks globally) and endorsing two targeted reviews: one on cryptoasset exposures and one on G-SIB assessment methodology.
The Basel Committee has published a consultation on a consolidated version of its guidelines and sound practices. The consolidated version aims to improve accessibility and substantially streamline guidance materials. Comments on the consultation are requested by 26 June 2026.
AI Analysis
The Basel Committee has opened a consultation on a new consolidated website version of its guidelines and sound practices for banks and supervisors, with comments due by 2026-06-26. The key compliance significance is structural rather than substantive: the Committee says the exercise is intended to improve accessibility and streamline existing guidance, not introduce new expectations.
Key dates
2026-02-26
Basel Committee published the consultation and launched the draft consolidated guidelines and sound practices website
2026-06-26 Deadline
Deadline for comments on the consultation
Suggested considerations
Compliance teams may wish to review the consultative document and assess whether the new modular structure affects internal policy libraries, control inventories, or regulatory mapping tools.
Firms may wish to compare their current reliance on BIS guidelines and sound practices against the consolidated version to identify any content that has been removed as outdated, duplicative, or superseded.
Stakeholders may wish to submit comments by 2026-06-26 if the draft structure, organization, or accessibility of the consolidated guidance would affect supervisory implementation or internal interpretive work.
Supervisory liaison teams may wish to confirm that local or group-wide references to BIS guidance remain aligned with the consolidated presentation rather than legacy PDF documents.
What changed
The Committee has launched a draft consolidated version of its guidelines and sound practices in a modular format on a new BIS website section. It says the new structure reorganises existing guidance, mirrors the format used for the Basel Framework, and is intended to make the materials more user-friendly and easier to navigate.
The Committee states there was no intention to introduce new expectations through this exercise.
Compliance impact
The practical impact is moderate because the Basel Committee explicitly says the exercise does not create new expectations. The main consequence is that firms and supervisors may need to re-map references to legacy guidance, since the Committee has restructured and materially reduced the volume of published materials.
The Basel Committee on Banking supervision has launched a new section of its website that sets out a consolidated version of its guidelines and sound practices for banks and supervisors.
Why this matters
This is a news item announcing a website redesign consolidating existing Basel Committee guidelines and sound practices into modular format. The content describes an accessibility improvement to already-published materials, with a closed consultation period.
Discusses vulnerabilities in government bond-backed repo markets. Discusses progress of a targeted review of the prudential standard for banks' cryptoasset exposures. Announces date and location of the International Conference of Banking Supervisors.
Why this matters
This is a press release announcing Basel Committee meeting outcomes. The text explicitly discusses an expedited review of cryptoasset exposure standards (with update promised later in 2026), approved technical amendments to operational risk standardised approach (publishing March 2026), and vulnerabilities in repo...
This is a BIS working paper (informational/research content, not a binding rule or consultation) analyzing non-maturity deposit stability in response to the 2023 banking turmoil.
Synthetic risk transfers (SRT) transactions involve transferring all or a portion of the credit risk of a pool of assets to a counterparty while the bank retains ownership of the underlying assets.
Why this matters
This is a Basel Committee monitoring report on synthetic risk transfers, a capital relief mechanism used primarily by banks with NBFI investors. The content explicitly addresses credit risk management, capital requirements implications, and systemic interconnection risks.
The Basel Committee on Banking Supervision today published a report on synthetic risk transfer (SRT) transactions. The economic importance of SRT markets has grown rapidly over the last decade and they have become an important source of capital relief for corporate credit risk.
Why this matters
This is a Basel Committee report publication analyzing synthetic risk transfer markets. The content is informational and analytical rather than prescriptive or binding.
François Villeroy de Galhau, Governor of the Bank of France, today announced his decision to leave the Bank of France at the beginning of June to become President of the Fondation Apprentis d'Auteuil. Accordingly, he will step down from his position as Chair of the BIS Board of Directors.
Why this matters
The content is a press release announcing François Villeroy de Galhau's resignation from his position as Chair of the BIS Board of Directors to pursue a role at a charitable foundation.
The Bank for International Settlements has reviewed the content of the FX Global Code and acknowledges that the Code represents a set of principles generally recognised as good practice in the wholesale foreign exchange (FX) market.
Why this matters
The BIS press release announces its commitment to conduct FX market activities consistent with the FX Global Code principles. This is an informational statement of compliance with a recognized voluntary code of conduct, not a new rule, consultation, or enforcement action.
Since its publication in 2013, BCBS 239 has become a foundational framework for data management and risk management practices in the banking sector. While its principles still apply, its implementation has evolved over the years, reflecting changes in the business, technology and risk landscape.
Why this matters
This is a Basel Committee newsletter providing thematic guidance on BCBS 239 principles implementation based on recent supervisory outreach. While it does not introduce new binding obligations, it offers noteworthy regulatory signals on current supervisory expectations regarding risk data aggregation, governance...