Journal of the Banking Supervisor No. 60

Rethinking of priorities for 2020

The disruption caused by the recent and rapid spread of the Covid-19 virus has completely changed the outlook for 2020 and has prompted financial authorities around the world to rethink their priorities and agendas. Even the Basel Committee on Banking Supervision has announced the extension of the term for the implementation of the Basel III framework until January 2023.

In this sense, the economic perspectives can only be examined through different alternative scenarios, since there are no historical records with which to compare events and current data are still insufficient to provide reliable forecasts.

On the other hand, there are risks for financial systems that must not be lost sight of and that must even be reinforced during this crisis, as in the case of technological and cybersecurity risks. In addition to others related to climate change, despite the fact that its progress is slow and silent, they have the potential to cause major disruptions at their critical point.

In this context, edition 60 of the Journal of the Banking Supervisor takes stock between some economic perspectives that can be glimpsed during this health crisis, without losing sight of other risks relevant to the present and the medium and long-term future. In addition, as in each edition, ASBA members shared relevant prudential and non-prudential financial regulations issued in their countries during the first quarter of 2020.

Categories: Journal of the Banking Supervisor
Author: ASBA