BRC
GFSI-benchmarked standard for food safety management
Basel III
Global framework for bank capital, leverage, liquidity standards
Quick Verdict
BRC ensures food safety certification for manufacturers via audits and HACCP, enabling retailer access. Basel III mandates bank capital, leverage, and liquidity resilience through supervision, preventing financial crises. Food firms adopt BRC for markets; banks comply to operate legally.
BRC
BRCGS Global Standard for Food Safety
Key Features
- GFSI-benchmarked certification for food manufacturers worldwide
- Senior management commitment with culture action plan
- Codex HACCP-based food safety management system
- 13 fundamental non-negotiable certification requirements
- Risk zoning for high-risk production areas
Basel III
Basel III: Post-Crisis Reforms Framework
Key Features
- CET1 capital minimums and conservation buffers
- Non-risk-based leverage ratio backstop
- Liquidity Coverage Ratio for 30-day stress
- Net Stable Funding Ratio for structural resilience
- Enhanced RWA comparability disclosures
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
BRC Details
What It Is
BRCGS Global Standard for Food Safety (Issue 9) is a GFSI-benchmarked certification framework for food manufacturing, processing, and packing. It ensures product safety, legality, authenticity, and quality through a structured management system combining senior leadership commitment and Codex HACCP principles with prerequisite programs.
Key Components
- Nine core clauses: senior management, HACCP plan, FSQMS, site standards, product/process controls, personnel, risk zones, traded products.
- 13 fundamental requirements like traceability, allergen management, internal audits.
- Graded certification (AA/A/B/C/D) via announced/unannounced audits.
Why Organizations Use It
Provides retailer market access, reduces duplicative audits, demonstrates due diligence, mitigates recall risks from allergens/pathogens/labelling. Builds trust, supports FSMA compliance, drives continuous improvement via CAPA/root cause analysis.
Implementation Overview
Phased approach: gap analysis, HACCP development, training, internal audits, certification audit. Applies to manufacturers globally; 6-12 months typical for mid-size sites with significant site upgrades, documentation, and audits required.
Basel III Details
What It Is
Basel III is the international regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) post-global financial crisis. It establishes prudential standards for banks, focusing on enhancing capital quality, constraining leverage, and ensuring liquidity resilience. The risk-based approach integrates RWA capital ratios with simpler backstops like leverage and liquidity metrics.
Key Components
- **Three PillarsPillar 1 (capital ratios: CET1 4.5%, Tier 1 6%, Total 8%; buffers; leverage ratio 3%; LCR/NSFR); Pillar 2 (supervisory review/ICAAP); Pillar 3 (disclosures for comparability).
- Output floor limits internal model benefits.
- No fixed controls count; compliance via national rules.
Why Organizations Use It
Mandatory for internationally active banks via domestic laws; reduces crisis risks, improves funding costs, boosts resilience, enhances comparability, and builds stakeholder trust through transparent disclosures.
Implementation Overview
Phased enterprise program: gap analysis, data/IT upgrades, model validation, governance. Targets large banks globally; jurisdictional variations. Supervised audits, no central certification.
Key Differences
| Aspect | BRC | Basel III |
|---|---|---|
| Scope | Food safety management, HACCP, site standards | Bank capital, leverage, liquidity standards |
| Industry | Food manufacturing, packaging, global | Banking, financial institutions, global |
| Nature | Voluntary GFSI certification standard | Mandatory prudential regulatory framework |
| Testing | Annual third-party audits, grading | Continuous supervisory review, stress tests |
| Penalties | Certification loss, market exclusion | Fines, asset caps, enforcement actions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about BRC and Basel III
BRC FAQ
Basel III FAQ
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