The Basel Committee on Banking Supervision has issued the Seventeenth progress report on adoption of the Basel regulatory framework. As noted by the Group of Central Bank Governors and Heads of Supervision, the Committee’s oversight body, member jurisdictions are expected to ensure a full, timely and consistent implementation of the finalised Basel III reforms.
This report is designed to monitor the adoption progress of all Basel standards agreed to date. The monitoring tables include all standards currently in the course of implementation in BCBS member jurisdictions. This means that, in contrast to earlier reports, it no longer includes the Basel II and 2.5 standards, nor those Basel III standards that have been implemented by all BCBS members (definition of
capital, capital conservation buffer and LCR). The attached table therefore reviews members’ regulatory adoption of the following standards.
The progess report sets out the adoption status of Basel III standards for each Committee member jurisdiction as of end-September 2019. It includes the Basel III post-crisis reforms published by the Committee in December 2017 and the finalised minimum capital requirements for market risk in January 2019. These reforms will take effect from 1 January 2022.
Since the previous report, published in May 2019, member jurisdictions have made further progress in adopting Basel III standards, notably the standard on interest rate risk in the banking book, the Net Stable Funding Ratio and the supervisory framework for measuring and controlling large exposures. However, the report also shows that a number of jurisdictions have yet to put these standards into effect.
The Committee will continue to closely monitor the implementation of Basel standards, including the finalised Basel III reforms.