Global adoption of the Basel framework: enhancing financial stability across countries

Speech by Mr William Coen, Secretary General of the Basel Committee, at the 9th Islamic Financial Services Board Public Lecture on Financial Policy and Stability, Kuala Lumpur, Malaysia, 5 April 2017.

Full, timely and consistent implementation of Basel Committee standards is critical to improving the resilience of the global banking system, promoting public confidence in prudential ratios and encouraging a predictable and transparent regulatory environment for internationally active banks. The Basel Committee on Banking Supervision and its governing body, the Group of Governors and Heads of Supervision, therefore place a high priority on the adoption and implementation of the Basel framework. This speech outlines the Committee's implementation efforts, including the key elements of the Regulatory Consistency Assessment Programme (RCAP), and shows how this programme has helped improve the consistency of banking regulation across Basel Committee members. It also presents other efforts under way to facilitate the implementation of Basel standards and guidelines and to monitor and assess their impact.