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In April 2019, the Basel Committee issued a draft version of the consolidated Basel framework. The publication of the standards in a new format focused on reorganising existing requirements, not introducing new requirements or otherwise amending the standards previously agreed and published by the Basel Committee.
The preparation of the standards in the new format did, however, reveal some inconsistencies between Basel requirements as well as ambiguities that needed to be addressed through minor policy changes. Therefore, concurrent with the publication of the draft consolidated framework, the Basel Committee published a consultative document that outlined the proposed changes.
The Committee has reviewed the feedback to the consultation and finalised the first (non-draft) version of the consolidated framework.
This publication sets out the changes that the Committee agreed to make relative to the draft version of the framework and lists the new frequently asked questions and answers (FAQs) added to the framework since its publication in draft form in April 2019.