BIS issues governance paper

BASEL, SWITZERLAND – The Basel Committee issued a paper to supervisory authorities and financial services organisations worldwide in mid-February on sound corporate governance practices by banks.

This guidance, Enhancing corporate governance for banking organizations, is not intended to lead to a new regulatory framework layered on top of existing national legislation but is aimed at assisting banking organisations in their corporate governance frameworks and helping supervisors in assessing the quality of those frameworks.

"Corporate governance for banking organisations is of great importance to the international financial system and merits targeted supervisory guidance," according to a

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