Risk management practices and regulatory capital : Cross-sectoral comparison

The Joint Forum of banking, securities, and insurance supervisors has been working to enhance mutual understanding of issues related to the supervision of firms operating in each of the respective sectors. This report responds to the parent committees request to compare approaches to risk management and capital regulation across the three sectors and was developed by a working group of the Joint Forum with membership from supervisors in all three sectors ...

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Year of publication:	2001-11-01
Institutions:	Basel Committee on Banking Supervision ; International Organization of Securities Commissions ; International Association of Insurance Supervisors
Subject:	Regulierung \| Risikomanagement \| risk management

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Executive Summary
1. Differences in the core business activities
2. Similarities and differences in risk management tools
3. Approaches to capital regulation
4. Cross-sectoral risk transfers and investments
5. Developments on the horizon
I. Introduction
II. Risk Management
Sectoral emphases on risk
General approaches to the management of key risks
Credit risk
Market and asset liquidity risks
Funding liquidity risk
Interest rate risk
Technical risk (insurance underwriting risk)
Operational risk
Risk consolidation
Market assessments of risks and risk management
III. Supervisory Approaches and Capital Regulation
Differences in perspective
Bank supervision
Securities regulation
Insurance supervision
Conglomerate regulation
Comparing capital regulations across sectors
Cross-sectoral risk transfer
Cross-sectoral investments
IV. Conclusions and Future Developments
Conclusions
Developments on the horizon
Annex 1: Glossary of key terms as they are used in the report
Annex 2: Stylised balance sheets for securities firms, banks and insurance companies
Annex 3: Technical provisions in insurance
Annex 4: Capital frameworks in the three sectors and further references
Annex 5: Comparison of capital treatments for cross-sectoral investments
Annex 6: Members of the Working Group

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