Basel Committee reports on Basel III implementation progress

The Basel Committee on Banking Supervision has today issued the Seventeenth progress report on adoption of the Basel regulatory framework. As noted by the Group of Central Bank Governors and Heads of Supervision, the Committee's oversight body, member jurisdictions are expected to ensure a full, timely and consistent implementation of the finalised Basel III reforms.

The progess report sets out the adoption status of Basel III standards for each Committee member jurisdiction as of end-September 2019. It includes the Basel III post-crisis reforms published by the Committee in December 2017 and the finalised minimum capital requirements for market risk in January 2019. These reforms will take effect from 1 January 2022. 

Since the previous report, published in May 2019, member jurisdictions have made further progress in adopting Basel III standards, notably the standard on interest rate risk in the banking book, the Net Stable Funding Ratio and the supervisory framework for measuring and controlling large exposures. However, the report also shows that a number of jurisdictions have yet to put these standards into effect.

The Committee will continue to closely monitor the implementation of Basel standards, including the finalised Basel III reforms.