In a new report, the Basel Committee on Banking Supervision assessed "the causes of the banking turmoil [that started in March 2023], the regulatory and supervisory responses, and the initial lessons learnt."
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The Financial Stability Oversight Council and the Financial Stability Board considered the "post-LIBOR transition landscape" and steps forward to ensure market resilience.
Federal Reserve Board Vice Chair for Supervision Randal Quarles described the vulnerabilities of nonbank financial intermediation, revealed by COVID-19 related shocks to the financial markets.
In a report called the "Global Transition Roadmap," the Financial Stability Board laid out USD LIBOR transition timelines for market participants with exposure to LIBOR cessation risk.
The Bank for International Settlements Basel Committee on Banking Supervision finalized several "limited adjustments" to the credit valuation adjustment risk framework.