BIS calls for swift Basel III implementation

The Basel Committee has reiterated its expectation that all aspects of the Basel Framework should be implemented as consistently and fast as possible. More than 66% of jurisdictions plan to implement all or most of the standards in 2023 or 2024.

It has also confirmed the Committee is working on:

  • climate-related financial risks, taking a holistic approach to developing and assessing potential measures on disclosure, supervision and/or regulation; and
  • crypto assets, focusing on the need for a robust and prudent regulatory framework for banks’ exposures to cryptoassets that promotes responsible innovation while preserving financial stability.

Emma Radmore