Regulatory Consistency Assessment Programme (RCAP): summary of post-assessment follow-up actions
Each year, the Basel Committee publishes reports from its members on actions taken or planned to address findings identified in RCAP assessments. These reports are based on self-reporting and are published alongside the original RCAP assessment reports. The actions taken or planned have not been reviewed or evaluated by the Basel Committee.
The note below summarises the follow-up actions taken by member jurisdictions after the RCAP assessments to address material and potentially material findings identified in their RCAP assessments. It covers those jurisdictions whose RCAP assessment reports were published by December 2015. The table appended in the note does not reflect the efforts made by member jurisdictions to address findings raised during the assessments, as most of these findings were addressed in the course of the assessments and therefore before the finalisation of the reports. In some cases, findings included on the list reflect minor divergences from the Basel standards or timing differences with respect to forthcoming standards. It should also be noted that the Committee's membership includes jurisdictions subject to rulemaking processes that may affect the ability of Committee members to fully undertake post-assessment follow-up actions or to home country laws that require modifications to the standards. Nonetheless, it is important that such member jurisdictions strive to achieve outcomes that are consistent with, or super-equivalent to, the substance of the Basel framework.