Eleventh progress report on adoption of Basel III standards published by the Basel Committee
The Basel Committee on Banking Supervision has today issued the Eleventh progress report on adoption of the Basel regulatory framework.
This report sets out the adoption status of Basel III standards for each member jurisdiction of the Basel Committee as of end-September 2016. It updates the Committee's previous progress reports which have been published on a semiannual basis since October 2011 under the Committee's Regulatory Consistency Assessment Programme (RCAP).
Since it introduced the RCAP in 2011, the Committee has periodically monitored the adoption status of the risk-based capital requirements. From 2013, the Committee expanded its coverage to monitor its members' adoption of the requirements for systemically important banks (SIBs), the liquidity coverage ratio (LCR) and the leverage ratio. In 2015, the Committee extended its monitoring of the adoption progress to all Basel III standards, which will become effective by 2019.
The Committee's latest report as of end-September 2016 shows that:
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all 27 member jurisdictions have final risk-based capital rules, LCR regulations and capital conservation buffers in force;
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26 member jurisdictions have issued final rules for the countercyclical capital buffers;
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25 have issued final or draft rules for their domestic SIBs framework; and
- 18 have issued final or draft rules for margin requirements for non-centrally cleared derivatives.
With regard to the global SIBs framework, all members that are home jurisdictions to G-SIBs have the final framework in force. While members are now turning to the implementation of other Basel III standards, including the leverage ratio and the net stable funding ratio (NSFR), some member jurisdictions report challenges in meeting the agreed implementation deadlines for some standards. These include the revised Pillar 3 framework (by end-2016), the standardised approach for measuring counterparty credit risk (by January 2017), capital requirements for central counterparty (CCP) exposures (by January 2017) and capital requirements for equity investments in funds (by January 2017).