The Basel Committee on Banking Supervision has established a comprehensive implementation review process to ensure its globally-agreed standards are implemented fully by member jurisdictions. A key element of the process is transparency, including reporting to the G20 Leaders. As such, this report of interim findings to the G20 Leaders summit in Los Cabos, marks an important step forward in the Committee's work on implementation.
The Basel Committee's implementation review process consists of three levels:
The interim report includes preliminary findings on all three levels of review. The Level 1 progress reports will continue to be published on a six-monthly basis. The full results for the first three level 2 assessments of the EU, Japan and the US are expected to be published around the end September 2012. The two Level 3 assessments of risk-weighted assets in the banking book and trading book will deliver initial findings to the Basel Committee by end 2012.