| Author (Corporate) | Group of Central Bank Governors and Heads of Supervision (GHOS) |
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| Publisher | Basel Committee on Banking Supervision |
| Series Title | Press Release |
| Series Details | 07.12.17 |
| Publication Date | 07/12/2017 |
| Content Type | News |
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Further information: This agreement is the result of a review of those international reforms which was conducted by the Basel Committee with the aim of improving the balance between simplicity, comparability and risk sensitivity. The European Commission announced a consultation and impact assessment to evaluate the consequences of this agreement for the EU economy before it can be translated into EU law taking into account the results of the impact assessment. The implementation of the agreement in the European Union would require amendments to banking regulations, including the Capital Requirements Regulation (CRR). Background information: The Basel III capital framework sets global minimum standards for the amount of capital that banks must hold to cover the risks that they are exposed to. These standards are internationally agreed in the Basel Committee on Banking Supervision. The Basel Committee has 45 members from 28 jurisdictions, with around one-third being Member States of the EU. In order for the Basel standards to become binding on banks, they must be implemented in the laws of the individual member jurisdictions. In the EU, this implementation is done through the CRR and the Capital Requirement Directive (CRD). The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, endorsed on 7 December 2017 a package of amendments to the Basel III framework, the internationally agreed prudential standards for banks, that aim to finalise the post-crisis reforms. |
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| Source Link | Link to Main Source https://www.bis.org/press/p171207.htm |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
