A banking organization may provide financial support to another entity that is under financial stress even though there may be no legal, regulatory or contractual obligation to do so. This so-called “step-in risk” is the subject of new international guidelines issued in October by the Basel Committee on Banking Supervision of the Bank for International Settlements (Basel Committee). (Basel Committee on Banking Supervision, “Guidelines: Identification and management of step-in risk,” October 2017.) The Basel Committee is a group of international banking supervisors which set international standards for banking organizations such as capital, liquidity and the like, which then are adopted by individual jurisdictions.
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