Basel Committee reports slow progress ahead of G-20 meeting

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Just six out of 29 global systemically important banks (G-Sibs) are likely to be covered by Basel III rules when the official implementation deadline passes on January 1, the Basel Committee on Banking Supervision said today (October 29).

In a report submitted to G-20 leaders ahead of the summit on November 4–5 in Mexico City, the Basel Committee noted a number of jurisdictions were still behind on implementing final rules. Just eight have published final rules – Australia, China, Hong Kong

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