- Update sets out the adoption status of Basel III standards in member jurisdictions as of end-September 2022.
- Update shows further progress since previous report in October 2021 in implementing both standards with past due dates and outstanding standards with 1 January 2023 due date.
The Basel Committee on Banking Supervision (BCBS) issued its progress update on the adoption of the Basel regulatory framework.
The update summary and monitoring dashboard set out the jurisdictional adoption status of the Basel III standards as of end-September 2022. It covers the Basel III post-crisis reforms published by the Committee in December 2017 and the finalized minimum capital requirements for market risk of January 2019. These reforms are due to take effect from 1 January 2023, as announced by the governors and heads of Supervision in March 2020.
Since the previous update as of end-September 2021, member jurisdictions have made further progress in implementing the Basel III standards with past due dates as well as the finalized reforms with the 1 January 2023 due date. The monitoring dashboard introduced last year has been further refined and provides the full implementation history of standards by member jurisdictions including the publication and implementation dates of their domestic regulations.
Members of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the BCBS, have recently reaffirmed their expectation of implementing all aspects of the Basel III framework in a full and consistent manner, and as soon as possible, in order to provide a regulatory level playing field for internationally active banks.