27 August 2013
The Basel Committee on Banking Supervision has today published its fourth Report to G20 Leaders on progress made in the implementation of Basel III regulatory reforms. The report has been prepared for the G20 Leaders' Summit in St Petersburg on 5-6 September.
Full, timely and consistent implementation of Basel III has been accorded high priority by the G20 Leaders. This latest report notes substantial progress with respect to:
Stefan Ingves, Chairman of the Basel Committee and Governor of Sveriges Riksbank, said: "There has been significant progress in many areas since the last update. Many Committee member jurisdictions now have final Basel III regulations in place. Also, the Committee's regulatory consistency assessment programme is contributing to further convergence of national implementation of the Basel standards. These are positive developments that will help build a resilient banking system and improve public confidence in regulatory ratios. Nevertheless, there is more to do. For example, with regard to risk weights, excessive variation across banks has been identified, and the Basel Committee is exploring policy options to reduce that."