The framework review is a unique biennial process built into the Principles, to improve their effectiveness and ongoing relevance over time. 2022 is the first year that this review is taking place, and the the secretariat, PRB board and membership, with the process running from April 2022 to September 2022.
Following the consultation phase earlier this year, the PRB board has agreed that the 6 Principles will not change, however some clarifications and adjustments will be added to the two framework review documents. Below are the links to the draft:
The 3 key steps for signatories
The reporting and self-assessment template
These adjustments will be designed to support your work, simplify your tasks where possible and clarify existing ambiguities. Once approved by the PRB Board, the proposed amendments will be shared with you for your inputs and comment through a consultation process that will be open from 5 – 31 August 2022.
Two webinars took place on 5th and 8th August to discuss the proposed changes. In case you missed it, click here for the recording.
Give us your feedback!
The framework review is a collaborative process, and we deeply value your insights as we work on the Reporting and Self-Assessment Template. In summer 2022, signatory banks were asked to fill out an online survey. The consultation conducted collected feedback from signatory banks on the first draft of the reporting template. Please see here the key results of the consultation.
Your valuable feedback has been incorporated in the final version of the framework documents, which are now sent to the Banking Board for approval. The new framework documents, once approved, will become effective on September 23rd.
Please get in touch with email@example.com in case you have any questions.