Implementation of Basel III regulations - Regulatory Consistency Assessment Programme (RCAP)
Strengthening regulatory regimes and supervisory practices are core components of the Basel Committee's mandate.
Consistency in the adoption and implementation of Basel standards is critical to improving the resilience of the global banking system, promoting public confidence in prudential ratios and encouraging a regulatory level playing field for internationally active banks. The Basel Committee and its governing body, the Group of Governors and Heads of Supervision, have therefore set as a high priority the full and consistent implementation of Basel standards within the globally-agreed time frame.
To facilitate this process, the Basel Committee adopted in 2012 a comprehensive Regulatory Consistency Assessment Programme (RCAP). Endorsed by the G20, the RCAP seeks to ensure timely and effective implementation and inform the Committee's development of prudential standards. It also benefits from and contributes to the Committee's quantitative impact assessments as well as its analytical and monitoring work. The Committee regularly publishes the results of its RCAP efforts, which consists of two distinct but complementary modules:
- Monitoring adoption of Basel III standards
- Consistency assessments which are carried out on a jurisdictional as well as thematic basis: