Basel Committee for Banking Supervision (BCBS) Secretary General Bill Coen joins FRT. Bill discusses the Committee’s workplan for 2019, as well as some of the emerging risks in a more digitized financial sector.
With some recent milestones in post-crisis reforms, most notably the recent finalization of market risk rules, Bill highlights that we can anticipate an increased emphasis on supervision in the near future. In a similar vein, Bill also relates how the evaluation of completed reforms needs to consider the behavioral responses, and not merely the initial quantifiable impacts.
Bill also identifies the opportunity for increased partnership between banking supervisors and anti-money-laundering authorities, reinforcing some of the conclusions from the IIFs recent report on Machine Learning in Anti-Money Laundering.