BIS: Basel III regulatory consistency assessment programme (RCAP)

In 2012, BIS adopted the RCAP which consisted of two distinct but complementary work streams to monitor the timely adoption of Basel III standards, and to assess the consistency and completeness of the adopted standards including the significance of any deviations in the regulatory framework. Currently, the focus of the RCAP is on risk-based capital - this will expand from 2015 to cover Basel III standards on liquidity, leverage and systemically important banks. The procedures and process for conducting jurisdictional assessments under the RCAP have now been revised and updated. The RCAP methodology describes the complete assessment programme and also introduces the RCAP questionnaire, which member jurisdictions complete ahead of the assessment and update it regularly. Both the assessment methodology document and the RCAP questionnaire are intended to help all regulators, supervisors and financial stability authorities to evaluate their own progress with implementation of Basel III framework and identify areas for improvement. The document will be kept under review and updated as the scope of the RCAP expands to include all aspects of the Basel III framework.