Basel Committee discusses recent market developments and targeted review of cryptoasset standard

Press release  | 
25 February 2026
  • 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.

The Basel Committee on Banking Supervision met virtually on 24–25 February 2026 to discuss a range of initiatives.

Financial stability outlook

Committee members exchanged views on recent market developments and the outlook for the global banking system.

As part of the discussion, the Committee discussed vulnerabilities in government bond-backed repo markets, building on a recent report by the Financial Stability Board. The Committee's recently finalised guidelines for counterparty credit risk management include a number of expectations with regard to banks' securities financing transactions and collateral management. The Committee agreed that the implementation of these guidelines by supervisors and banks will help to address some of the vulnerabilities in government bond-backed repo markets. It agreed to monitor the progress in the implementation of these guidelines.

Cryptoassets

As noted previously, given recent cryptoasset market developments, the Committee has expedited a review of targeted elements of its prudential standard for banks' cryptoasset exposures. The Committee took note of the progress of the review. An update will be provided later this year. 

Implementation

The Committee approved a technical amendment on the standardised approach to operational risk, following its previous consultation. It also approved a response to a frequently asked question about the market risk framework. They will be published in March.

International Conference of Banking Supervisors

The Committee announced that the next International Conference of Banking Supervisors (ICBS) will be hosted by Bank Indonesia and the Indonesian Financial Services Authority in Indonesia, on 30 September–1 October 2026. Additional information on the ICBS will be provided in due course.

Other

Members also expressed their appreciation of Neil Esho, who has served the Committee for 20 years and as Secretary General since 2022. His term will conclude at the end of March 2026. The Committee thanked him for his substantive contributions.

Note to editors:

The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members' commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of the Sveriges Riksbank.

More information about the Basel Committee is available here.