Basel III reforms pushed back to buy time for coronavirus response
Basel Committee chief says banks and supervisors need operational capacity to cope with virus shock
The implementation of Basel III has been pushed back to give banks and their supervisors more “operational capacity” to cope with the financial stability impact of the coronavirus outbreak.
The Group of Governors and Heads of Supervision (GHOS), the oversight body for the Basel Committee on Banking Supervision, has delayed the deadlines for implementing key elements of the Basel III package by a year.
The market risk framework and the revised Pillar 3 disclosure requirements must now be in
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