Governors and Heads of Supervision welcome progress to implement Basel III and discuss elements of the Basel Committee's work programme

Press release  | 
09 March 2026
  • Group of Central Bank Governors and Heads of Supervision (GHOS) welcome the progress to fully implement Basel III.
  • GHOS endorsed targeted reviews of the Committee's prudential standards for cryptoassets and global systemically important banks.

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 9 March 2026.

Basel III implementation

The GHOS took stock of the implementation status of the outstanding Basel III reforms. Members continue to make good progress with implementation. About 75% of member jurisdictions have now implemented, or will shortly implement, the standards, and the remaining jurisdictions have communicated their plans to do so.

GHOS members welcomed the implementation progress and reaffirmed their expectation of full and consistent implementation of the Basel III framework by all member jurisdictions as soon as possible. The series of shocks to financial markets over the past few years and recent market developments have highlighted the importance of having a prudent global regulatory framework in place and a regulatory level playing field. The GHOS tasked the Committee with continuing to monitor and assess the full and consistent implementation of Basel III.

Targeted reviews

The GHOS endorsed two sets of targeted reviews by the Committee. The first consists of a review of specific elements of the Committee's prudential standard for banks' cryptoasset exposures in light of recent cryptoasset market developments. The second consists of a targeted review of the governance and transparency of the assessment methodology for global systemically important banks (G-SIBs), in line with the process of ongoing monitoring and review of the G-SIB framework. Updates will be provided later this year.

Note to editors:

The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members' commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of the Sveriges Riksbank.

More information about the Basel Committee is available here.