What It Is

FSSC 22000 (Food Safety System Certification 22000 Version 6.0) is a GFSI-benchmarked certification scheme for Food Safety Management Systems (FSMS). It applies across food chain categories from primary production to chemicals, using a risk-based PDCA approach integrating ISO 22000:2018 requirements.

Key Components

• **Three pillarsISO 22000:2018 (clauses 4-10), sector-specific PRPs (e.g., ISO/TS 22002-1 for manufacturing), FSSC Additional Requirements (18 items like food defense, allergens, culture).
• Over 100 combined requirements with HACCP/OPRP/CCP controls.
• Built on PDCA; certification via licensed bodies per ISO 22003-1:2022.

Why Organizations Use It

• Meets retailer mandates, enables global trade.
• Reduces recalls, enhances supply chain trust.
• Manages risks like fraud, defense; supports SDGs.
• Builds reputation via public register of 40,000+ sites.

Implementation Overview

• Phased: gap analysis, FSMS design, training, audits (6-24 months).
• For food manufacturers, packagers, logistics; all sizes.
• Requires CB certification, surveillance/recertification cycles.

What It Is

Basel III is the global regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) post-2007 financial crisis. It establishes prudential standards for banks to enhance resilience through improved capital quality/quantity, leverage constraints, and liquidity requirements. The risk-based approach integrates Pillar 1 minimums, Pillar 2 supervision, and Pillar 3 disclosures.

Key Components

• **CapitalCET1 ≥4.5%, Tier 1 ≥6%, Total ≥8%, plus buffers (CCB 2.5%, CCyB, G-SIB/D-SIB).
• Leverage ratio ≥3% (Tier 1/total exposure).
• **LiquidityLCR (HQLA/net outflows ≥100%), NSFR (ASF/RSF ≥100%).
• Built on three pillars; no fixed controls, but standardized approaches and output floor (72.5%). Compliance via jurisdictional implementation, no global certification.

Why Organizations Use It

Mandatory for internationally active banks via national laws; mitigates systemic risk, constrains leverage, boosts liquidity. Benefits include lower funding costs, better asset allocation, reduced model risk, enhanced market discipline and reputation.

Implementation Overview

Phased enterprise program: diagnostics, data/system builds, governance, training, stress testing. Targets large banks globally; supervisory audits, RCAP assessments, Pillar 3 disclosures required. (178 words)