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As noted by the Committee's oversight body, the Group of Central Bank Governors and Heads of Supervision, the Committee expects full, timely and consistent implementation of Basel III post-crisis reforms by member jurisdictions.
Since the last report published in April 2018, member jurisdictions have made further progress in implementing standards whose deadline has already passed or is within the next six months. These include notably the leverage ratio, based on the existing exposure definition, the large exposures framework and the standard on interest rate risk in the banking book.
However, the report also shows that limited progress has been made on the implementation of other standards whose implementation deadlines have passed. These include notably the Net Stable Funding Ratio (NSFR), for which only 10 member jurisdictions have final rules in force.
The Committee urges member jurisdictions to strive for full, timely and consistent implementation of Basel III standards and will keep monitoring closely the implementation of these standards.