Japan’s financial regulator will introduce new capital requirements for large banks, known as Basel III, two years later than originally planned, Nikkei has learned.
Originally scheduled to go into effect in the fiscal year ending March 2022, the new requirements will not be introduced until the fiscal year ending March 2024. The Financial Services Agency had already postponed implementation of the new regulations by a year to ensure that they would not hinder the government’s fiscal support during the COVID-19 outbreak. But the pandemic has dragged on, and Russia’s invasion of Ukraine has caused more turmoil in financial markets. The financial regulator decided to further delay implementation of the regulations so that banks can focus on supporting their clients.
The full article is available at https://asia.nikkei.com/Business/Finance/Japan-delays-introduction-of-Basel-III-capital-rules-for-megabanks