BoE postpones date for UK banks’ Basel III compliance
PRA says it needs more time to consider feedback on credit risk and output floor proposals
The Bank of England will postpone the implementation of Basel III capital rules by UK lenders by six months, it announced today (September 27).
Banks in the UK will now have July 1, 2025 as their implementation date for the reforms, the BoE’s Prudential Regulation Authority (PRA) said. It is also reducing the transitional period to four and a half years, so the reforms will be fully implemented by January 1, 2030.
The PRA said it was also splitting its “near-final” policy statements on the
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