“The Basel Committee on Banking Supervision has today issued a consultative document on Revised good practice principles for supervisory colleges. The Committee seeks to ensure that the principles remain fit for purpose and that they describe how high quality supervisory colleges typically function. The key changes include the following:

• Principle 1 now places greater emphasis on collaboration and information-sharing on an ongoing basis.
• Principle 2 provides greater clarity on the expectation to strike a balance between core college effectiveness and host involvement.
• Principle 3 includes the expectation that home and host supervisors will put in place appropriate mechanisms and sufficient resources for effective and timely information exchange.
• Principle 6 encourages home and host supervisors to agree on the types of feedback provided to banks and ensure consistency in how such feedback is provided.
• Principle 7 differentiates between banks that have established crisis management groups (CMGs), eg systemically important banks, and banks that do not have a CMG. For the former, guidance is provided on possible communication and coordination between the college and CMG on crisis preparedness.
• Alignment across the principles in terms of how macroprudential information is shared and utilised.”