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Tuesday, October 30, 2012

Basel III Progress Report Released

The Basel Committee on Banking Supervision published a status report on the implementation of the Basel III capital accords by the committee’s member jurisdictions. The report, which will be considered at the Nov. 4-5 meeting of the G20, found that eight of the 27 members have issued final regulations, 17 have published draft regulations, and two are in the process of drafting regulations.

The report also found gaps between the international accords and the U.S. and European Union draft rules, and it urged the G20 finance ministers and central bank governors to close those gaps and issue final rules by the accords’ Jan. 1, 2013 transitional deadline.

Read the report.

ABA has grave concerns about U.S. regulators’ proposed implementing rules and has urged the banking agencies to withdraw and re-propose them.

Read more about ABA’s concerns.

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