The EACB welcomes the opportunity to comment on the Basel Committee’s review of the The Core Principles for Effective Banking Supervision (Core Principles).
Reviewing and enriching the Principles will certainly contribute to a wider level playing field at global level. We agree with the intention to see the Core Principles as a “living” standard that evolves in response to – but also in tune with – global financial developments, emerging risks and trends, and changes to the global regulatory and supervisory landscape. At the same time it is important for institutions to have the right degree of predictability in supervisory expectations and stability in regulatory and supervisory requirements.
The opening section should also make it clearer that the Principles do not add new requirements that are not already provided in more detail in the specific standards.