Bank’s Risk Governance Framework Needs Three Lines Of Defense: BIS

The enhanced focus on risk and supporting governance framework in banks should include three lines of defense, notes BIS. Bank for International Settlements has published its updated guidelines on “Corporate Governance Principles for Banks” in July 2015 to underscore the critical role of the BoD and the board risk committees in strengthening risk governance at banks. BIS’ revised CG principles for banks The Basel Committee published “Principles for enhancing corporate governance” in October 2010 to reflect key lessons from the global financial crisis that began in 2007. However, in the light of ongoing developments in corporate governance, the committee has…