Basel Core Principles for Effective Banking Supervision (2024)
The Basel Committee's Core Principles for effective banking supervision as revised in April 2024 (Basel Framework chapters BCP01 to BCP99): the 29 principles and their essential and additional criteria. Built for the bank side: the 16 principles on prudential regulations and requirements for banks (corporate governance, risk management, capital, credit, problem exposures and provisioning, concentrations and large exposures, related parties, country, market, banking book interest rate, liquidity and operational risk and resilience including ICT and third parties, internal control and audit, financial reporting, disclosure, and abuse of financial services) plus the reporting, notification and approval duties inside the supervisory principles; the supervisors' own powers and functions (Principles 1 to 13) are recorded as context.
Basel Core Principles for Effective Banking Supervision (2024) is a compliance framework from International with 5 domains and 17 controls that map to 5 other frameworks. The largest domains are Principles 17 to 21: credit, problem exposures, concentration, related party and country risks – Basel Core Principles for Effective Banking Supervision (2024) (5 controls), Principles 22 to 25: market, banking book interest rate, liquidity and operational risk and resilience – Basel Core Principles for Effective Banking Supervision (2024) (4 controls), Principles 26 to 29: internal control and audit, financial reporting, disclosure and abuse of financial services – Basel Core Principles for Effective Banking Supervision (2024) (4 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (5)
Principles 1 to 13: powers, responsibilities and functions of supervisors, and the bank duties within them – Basel Core Principles for Effective Banking Supervision (2024)
| Code | Title |
|---|---|
| basel-core-principles-for-effective-banking-supervision-2024::P6-10 | Principles 6, 7, 9 and 10: bank duties on ownership, acquisitions, notifications and supervisory reporting |
Principles 14 to 16: corporate governance, risk management process and capital adequacy – Basel Core Principles for Effective Banking Supervision (2024)
| Code | Title |
|---|---|
| basel-core-principles-for-effective-banking-supervision-2024::P14 | Principle 14: corporate governance |
| basel-core-principles-for-effective-banking-supervision-2024::P15 | Principle 15: risk management process |
| basel-core-principles-for-effective-banking-supervision-2024::P16 | Principle 16: capital adequacy |
Principles 17 to 21: credit, problem exposures, concentration, related party and country risks – Basel Core Principles for Effective Banking Supervision (2024)
| Code | Title |
|---|---|
| basel-core-principles-for-effective-banking-supervision-2024::P17 | Principle 17: credit risk |
| basel-core-principles-for-effective-banking-supervision-2024::P18 | Principle 18: problem exposures, provisions and reserves |
| basel-core-principles-for-effective-banking-supervision-2024::P19 | Principle 19: concentration risk and large exposure limits |
| basel-core-principles-for-effective-banking-supervision-2024::P20 | Principle 20: transactions with related parties |
| basel-core-principles-for-effective-banking-supervision-2024::P21 | Principle 21: country and transfer risks |
Principles 22 to 25: market, banking book interest rate, liquidity and operational risk and resilience – Basel Core Principles for Effective Banking Supervision (2024)
| Code | Title |
|---|---|
| basel-core-principles-for-effective-banking-supervision-2024::P22 | Principle 22: market risk |
| basel-core-principles-for-effective-banking-supervision-2024::P23 | Principle 23: interest rate risk in the banking book |
| basel-core-principles-for-effective-banking-supervision-2024::P24 | Principle 24: liquidity risk |
| basel-core-principles-for-effective-banking-supervision-2024::P25 | Principle 25: operational risk and operational resilience |
Principles 26 to 29: internal control and audit, financial reporting, disclosure and abuse of financial services – Basel Core Principles for Effective Banking Supervision (2024)
| Code | Title |
|---|---|
| basel-core-principles-for-effective-banking-supervision-2024::P26 | Principle 26: internal control and audit |
| basel-core-principles-for-effective-banking-supervision-2024::P27 | Principle 27: financial reporting and external audit |
| basel-core-principles-for-effective-banking-supervision-2024::P28 | Principle 28: disclosure and transparency |
| basel-core-principles-for-effective-banking-supervision-2024::P29 | Principle 29: abuse of financial services |
Your Compliance Coverage
If you comply with Basel Core Principles for Effective Banking Supervision (2024), you already cover:
Basel III International Banking Framework
53%
9 controls mapped
Compare →FATF 40 Recommendations
6%
1 controls mapped
Compare →COSO Internal Control - Integrated Framework (2013)
6%
1 controls mapped
Compare →+ 2 more: APRA CPS 230 Operational Risk Management (6%), BCBS 239 (6%)
See all 5 mapped frameworks ↓Maps to 5 other frameworks
Coverage is not the same as your position
This page shows what Basel Core Principles for Effective Banking Supervision (2024) overlaps with in general. Where your organisation actually stands, against the standard you are going for and the certifications you already hold, is a different question. Same graph and the same recorded refutations, scoped to you rather than to a pair.
The Compliance Position Diagnostic, $5,000 fixed, ten business daysWhat is Basel Core Principles for Effective Banking Supervision (2024) and who does it apply to?
Basel Core Principles for Effective Banking Supervision (2024) is a compliance framework from International with 5 domains and 17 controls. The Basel Committee's Core Principles for effective banking supervision as revised in April 2024 (Basel Framework chapters BCP01 to BCP99): the 29 principles and their essential and additional criteria. Built for the bank side: the 16 principles on prudential regulations and requirements for banks (corporate governance, risk management, capital, credit, problem exposures and provisioning, concentrations and large exposures, related parties, country, market, banking book interest rate, liquidity and operational risk and resilience including ICT and third parties, internal control and audit, financial reporting, disclosure, and abuse of financial services) plus the reporting, notification and approval duties inside the supervisory principles; the supervisors' own powers and functions (Principles 1 to 13) are recorded as context. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does Basel Core Principles for Effective Banking Supervision (2024) actually require?
Basel Core Principles for Effective Banking Supervision (2024) has 17 controls organised across 5 domains. The largest domains are Principles 17 to 21: credit, problem exposures, concentration, related party and country risks – Basel Core Principles for Effective Banking Supervision (2024) (5 controls), Principles 22 to 25: market, banking book interest rate, liquidity and operational risk and resilience – Basel Core Principles for Effective Banking Supervision (2024) (4 controls), Principles 26 to 29: internal control and audit, financial reporting, disclosure and abuse of financial services – Basel Core Principles for Effective Banking Supervision (2024) (4 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of Basel Core Principles for Effective Banking Supervision (2024) do I already cover?
Basel Core Principles for Effective Banking Supervision (2024) maps to 5 other compliance frameworks. The top mapping partners are Basel III International Banking Framework (53% coverage), FATF 40 Recommendations (6% coverage), COSO Internal Control - Integrated Framework (2013) (6% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I implement Basel Core Principles for Effective Banking Supervision (2024)?
Start your Basel Core Principles for Effective Banking Supervision (2024) compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about Basel Core Principles for Effective Banking Supervision (2024) requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 17 controls and track your progress.
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