Basel Committee Reports on Basel III Implementation

In preparation for the meeting of G20 ministers and governors in Mexico City on November 4th – 5th, the Basel Committee on Banking Supervision has published its report on Basel III implementation, which covers all three levels of the Committee’s Basel III implementation review program: (i) ensuring timely adoption, (ii) assessing regulatory consistency and (iii) assessing the consistency of outcomes. The Chairman of the Committee noted that significant progress has been made since the last report to the G20 leaders was published in 2012, particularly as many Committee members now have final rules in place. The Committee expects that all other member jurisdictions will finalize their rules quickly, especially those in which global, systemically important banks are headquartered.