Friday, 21 December 2012

BCBS update on Basel III implementation

A few days ago the Basel Committee on Banking Supervision published a short statement concerning Basel III implementation: see here. In its statement the Committee noted that eleven jurisdictions had published final regulations implementing Basel III with effect from 1 January 2013: Australia, Canada, China, Hong Kong SAR, India, Japan, Mexico, Saudi Arabia, Singapore, South Africa and Switzerland. The following seven jurisdictions have published draft regulations and are, according to the BCBS, working on issuing final regulations as quickly as possible: Argentina, Brazil, the European Union, Indonesia, Korea, Russia and the United States. Turkey will be issuing draft regulations in early 2013.

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