BCBS calls for further progress on Basel III standards
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BCBS calls for further progress on Basel III standards 29 October 2018Basel Reporter: Maddie Saghir
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The Basel Committee on Banking Supervision (BCBS) has called for further progress on the implementation of Basel III standards in the fifteenth progress report on the adoption of Basel regulatory framework.
The report set out the adoption status of Basel III standards for each committee member jurisdictions as of end-September this year.
As well as this, the report includes the finalised Basel III post-crisis reforms, which were published by the committee in December last year and are expected to take effect from 1 January 2022.
It was found that limited progress has been made on the other standards whose implementation deadlines have passed.
This includes the Net Stable Funding Ratio, for which only 10-member jurisdictions have final rules in forces.
The committee urged jurisdictions to strive for full, timely, and consistent implementation of Basel III standards.
Additionally, the committee also advised jurisdictions to keep monitoring the implementation of these standards closely.
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