Benefits and Practical Challenges for Emerging Markets and Developing Economies
This paper examines the benefits and implementation challenges of the newly revised Basel Core Principles (BCPs) for effective banking supervision. It outlines the rationale for the 2024 reform led by the Basel Committee on Banking Supervision (BCBS), highlights key enhancements, and provides insights to help supervisors—particularly those in capacity-constrained jurisdictions—align with the updated standards. While the paper primary focuses on emerging markets and developing economies (EMDEs), the topics and issues it addresses are relevant to supervisors in all jurisdictions. The topics can be of value to policy makers involved in regulatory reform, as well as stakeholders engaged in technical assistance and capacity building in banking supervision.
