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Overview of the Amendment to the Capital Accord to Incorporate Market Risks
VI. Cooperation with other supervisory authorities
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31. It has been a long-standing objective of the Basle Committee to achieve more consistent regulatory treatment where different types of institutions engage in similar types of activities. In this respect the Committee has maintained close ties with the Technical Committee of the International Organisation of Securities Commissions (IOSCO). In July 1994, the two Committees issued parallel papers containing guidelines for the risk management of derivatives activities. In May 1995, the Basle Committee and the IOSCO Technical Committee issued a joint framework for the reporting of derivatives related information to supervisory authorities (as well as related on-balance-sheet positions). More recently, the two Committees have released a joint paper with recommendations for the disclosure of information on the trading and derivatives activities of banks and securities firms. All of these initiatives have placed significant emphasis on an improved and more consistent supervisory approach to market risks. 32. Further to the Halifax Summit of G-7 countries, the two Committees are in close contact on a number of other important issues. The Basle Committee will make every effort to ensure that this joint work is carried forward with positive results. In the area of market risk capital, the Committee is working with the IOSCO Technical Committee to better understand the relative implications of value-at-risk models for banks and securities firms and the extent to which there is scope for further collaboration in this area.
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Overview of the Amendment to the Capital Accord to Incorporate Market Risks
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