The Joint Forum –an organization of financial service regulatory organizations established under the Basel Committee on Banking Supervision– issued recommendations to financial services regulators regarding their oversight of the credit risk management of financial service firms. Among other recommendations, regulators “should consider whether firms are accurately capturing central counterparty exposures as part of their credit risk management.” The Joint Forum also recommended that regulators “be cautious” against financial services firms’ over-reliance on internal models for credit risk management; reliance on “search-for-yield” behaviors in the current low interest rate environment; and the increasing need for high quality liquid collateral to meet margin requirements. The Joint Forum consists of the Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors.