In July 2015, the Basel Committee on Banking Supervision published its updated corporate governance principles for banks. The 13 revised principles provide a framework within which banks and supervisors should operate to achieve robust and transparent risk management and decision-making. Sound corporate governance of banks can promote public confidence and uphold the safety and soundness of the banking system.
Given significant differences in legislative and regulatory frameworks across jurisdictions that may restrict the application of certain principles, each jurisdiction should apply the provisions as the national authorities see fit. The implementation of these principles should also be commensurate with the size, complexity, structure, economic significance, risk profile and business model of the bank and the group (if any) to which it belongs.
