European Commission criticises Basel Committee findings

Assessment reports published today (October 1) by the Basel Committee on Banking Supervision (BCBS) found that while Japanese regulations are compliant with the Basel framework, the European Union (EU) and US are "materially non-compliant" in some areas. The European Commission responded critically to the findings, saying there was an "apparently significant lack of consistency" in certain judgements.

The three reports focused on ‘stage two' of the Basel III implementation review, which looks at