Basel Committee Discusses Cryptoasset Standard and Repo Market Vulnerabilities

BIS Press Releases

Published February 25th, 2026

Detected March 18th, 2026

Summary

The Basel Committee on Banking Supervision met to discuss vulnerabilities in government bond-backed repo markets and progress on a targeted review of its cryptoasset exposure standard. The committee also approved technical amendments to the standardized approach to operational risk and a response to a market risk framework FAQ.

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What changed

The Basel Committee on Banking Supervision (BCBS) met on February 24-25, 2026, to address key financial stability concerns. Discussions included vulnerabilities in government bond-backed repo markets, with the BCBS noting that its recently finalized guidelines for counterparty credit risk management will help address these issues. The committee also made progress on an expedited review of its prudential standard for banks' cryptoasset exposures, with an update expected later this year. Additionally, technical amendments to the standardized approach to operational risk and a response to a market risk framework FAQ were approved for publication.

Regulated entities, particularly banks, should be aware of the ongoing review of cryptoasset standards and the implementation of counterparty credit risk management guidelines related to securities financing transactions. While no immediate compliance deadline is specified for the cryptoasset review, the implementation of existing guidelines is crucial for mitigating repo market vulnerabilities. The approved technical amendments to operational risk and market risk framework FAQs will be published in March 2026, requiring attention for compliance with updated standards.

What to do next

Monitor updates on the targeted review of the prudential standard for banks' cryptoasset exposures.
Ensure implementation of guidelines for counterparty credit risk management, particularly for securities financing transactions and collateral management.
Review technical amendments to the standardized approach to operational risk and market risk framework FAQs upon publication in March 2026.

Source document (simplified)

Basel Committee discusses recent market developments and targeted review of cryptoasset standard

Press release | 25 February 2026
- Discusses vulnerabilities in government bond-backed repo markets.
- Discusses progress of a targeted review of the prudential standard for banks' cryptoasset exposures.
- Announces date and location of the International Conference of Banking Supervisors.
The Basel Committee on Banking Supervision met virtually on 24–25 February 2026 to discuss a range of initiatives.

Financial stability outlook

Committee members exchanged views on recent market developments and the outlook for the global banking system.

As part of the discussion, the Committee discussed vulnerabilities in government bond-backed repo markets, building on a recent report by the Financial Stability Board. The Committee's recently finalised guidelines for counterparty credit risk management include a number of expectations with regard to banks' securities financing transactions and collateral management. The Committee agreed that the implementation of these guidelines by supervisors and banks will help to address some of the vulnerabilities in government bond-backed repo markets. It agreed to monitor the progress in the implementation of these guidelines.

Cryptoassets

As noted previously, given recent cryptoasset market developments, the Committee has expedited a review of targeted elements of its prudential standard for banks' cryptoasset exposures. The Committee took note of the progress of the review. An update will be provided later this year.

Implementation

The Committee approved a technical amendment on the standardised approach to operational risk, following its previous consultation. It also approved a response to a frequently asked question about the market risk framework. They will be published in March.

International Conference of Banking Supervisors

The Committee announced that the next International Conference of Banking Supervisors (ICBS) will be hosted by Bank Indonesia and the Indonesian Financial Services Authority in Indonesia, on 30 September–1 October 2026. Additional information on the ICBS will be provided in due course.

Other

Members also expressed their appreciation of Neil Esho, who has served the Committee for 20 years and as Secretary General since 2022. His term will conclude at the end of March 2026. The Committee thanked him for his substantive contributions.

Note to editors:

The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members' commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of the Sveriges Riksbank.

More information about the Basel Committee is available here .