Basel Committee reports on Basel III implementation progress

Press release  | 
14 October 2021
  • Report sets out the adoption status of Basel III standards in member jurisdictions as of end-September 2021
  • Report shows further progress in implementing these standards since previous report in July 2020
  • Committee will continue to closely monitor the implementation of Basel III reforms

The Basel Committee on Banking Supervision has today issued its Progress report on the adoption of the Basel regulatory framework.

The report sets out the jurisdictional adoption status of the Basel III standards as of end-September 2021. It covers the Basel III post-crisis reforms published by the Committee in December 2017 and the finalised minimum capital requirements for market risk of January 2019. These reforms are due to take effect from 1 January 2023, as announced by the Governors and Heads of Supervision in March 2020.

Since the previous report, published in July 2020, member jurisdictions have made further progress in adopting the Basel III standards despite the disruptions resulting from Covid-19 and the required shift in regulatory and supervisory priorities.

The report is complemented by a newly developed dashboard to reflect the full history of Basel III implementation and provide an overview of the progress to date. The dashboard will be updated regularly and will replace the existing series of report publications.

The Group of Central Bank Governors and Heads of Supervision, the oversight body of the BCBS, has consistently reaffirmed its expectation of full, timely and consistent implementation of all elements of these reforms and, as reflected in its work programme for 2021–22, the Committee will continue to closely monitor their implementation.