03 Nov BCBS – Reports to G20 Leaders on Basel III implementation
November 3, 2020
Observed that further progress has been made in implementing Basel III standards; however, some standards have not yet come into force in some jurisdictions. Gave an update on Basel Framework measures taken by members in response to COVID. Such measures have been capital or liquidity-related, with the primary objective to support banks’ ability to continue lending and providing liquidity to the real economy.
Most measures make use of the flexibility embedded in the Basel Framework, while most other measures were taken over and above this flexibility are temporary in nature.
Reiterates its expectation of full, timely and consistent implementation of all Basel III standards based on the revised timeline endorsed by the Basel Committee’s oversight body, the Group of Governors and Heads of Supervision (GHOS), in March 2020.
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