Basel Committee seeks comments on updated core principles

The Basel Committee on Banking Supervision has issued updated versions of the 1997 Basel Core Principles for Effective Banking Supervision and the 1999 Core Principles Methodology for public comment. The core principles are a benchmark to assess quality of supervisory systems and to identify future work needed to ensure sound supervisory practices.

The Committee believes updating the core principles to reflect banking changes and experiences will ensure their continued validity and usefulness.
The principles are intended to be useful for all countries and for different financial systems, and to reflect diverse systems, structures and experiences.
Changes to the principles have been kept to a minimum to ensure their continued