Basel II and III Implementation Program
The Central Bank of The Bahamas (‘the Central Bank’) has adopted a Basel Implementation Program comprising elements of both the Basel II and III frameworks. The Central Bank’s Basel Implementation Program is expected to be both pragmatic and flexible, thus taking into account the types of banks and the scale of their operations within this jurisdiction.
The Central Bank proposes to stage the execution of its Basel Implementation Program in three phases with a full roll-out over a 30-month timeline. The formal program commenced in Q3 of 2013 and is expected to end Q4 of 2015, with the effective ‘go live’ implementation set for Q1 of 2016.
Comments on the Basel Consultation Papers
Published Thursday November 19th, 2015
Over the past year, the Central Bank has issued the following Basel related Consultation Papers:
- the Areas of National Discretion
- the Calculation of the Capital Charge for Operational Risk
- the Calculation of the Capital Charge for Credit Risk – Standardised Approach
- the Definition of Capital
- Minimum Disclosure Requirements
We received comments from a few licensees on these papers and are in the process of finalizing the documents. For information purposes, we have compiled a listing of the comments received, along with the Central Bank’s response to these comments. Please see the document below.