The Basel Committee on Banking Supervision has issued final Principles for effective supervisory colleges. The guidelines replace the Good practice principles on supervisory colleges, which the Committee published in October 2010 with a commitment to revise them after a period of practical implementation experience.

Supervisory colleges play an important role in the effective supervision of international banking groups. They can enhance information-sharing among supervisors, help the development of a shared agenda for addressing risks and vulnerabilities and provide a platform for communicating key supervisory messages among college members. The Principles aim to promote and strengthen the operation of colleges and have been revised to reflect observations on best practice. The revisions underscore the importance of continuous collaboration and information-sharing outside the formal college meetings. They also incorporate recent supervisory developments, such as the formation of crisis management groups (CMGs) and greater focus on macroprudential considerations.

The key changes include: