Reuters
The world's forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators and central bankers from the G2O economies and other countries, last year set out proposals to revise its "core principles" for the first time since 2012. "The revised standard reflects changes to promote operational resilience, reinforce corporate governance and risk management practices, and address new and emerging risks, including the digitalisation of finance and climate-related financial risks," the committee said in a statement.