ZURICH, Oct 11 (Reuters) - The Basel Committee on Banking Supervision on Thursday published a regulatory framework for domestically important banks, saying the failure of such a bank could greatly impact a country's economy and financial system.
The move following rules on globally important banks issued last November.
"The failure of such a bank could have a much greater impact on its domestic financial system and economy than that of a non-systemic institution," it said. "Some of these banks may have cross-border externalities, even if the effects are not global in nature."
Banks identified by national regulators as domestically important would be required to comply with the principles in line with the framework for globally important institutions, from Jan. 2016, the Basel Committee said.
(Reporting by Catherine Bosley)
((firstname.lastname@example.org)(+41 58 306 7461))
Keywords: BIS BASELCOMMITTEE/DSIF