Basel Committee Group Delays Basel III Implementation Deadlines

The Basel Committee Group of Central Bank Governors and Heads of Supervision ("GHOS") delayed the implementation dates for Basel III to allow banks to focus on "immediate financial stability priorities" during the COVID-19 pandemic.

The GHOS extended the following Basel III-related deadlines, among others, from January 1, 2022 to January 1, 2023 for:

  • the "revised leverage ratio framework and G-SIB buffer";

  • the "revised standardized approach for credit risk";

  • the "revised IRB [internal ratings-based] approach for credit risk";

  • the "revised operational risk framework";

  • the "revised CVA [credit valuation adjustment] framework";

  • the "revised market risk framework"; and

  • the "revised Pillar 3 disclosure framework."

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