EU delays Basel III banking reforms application by one year due to US delays, supported by France.
The EU will defer the application of key provisions of post-crisis banking reforms by one year due to expected US delays to Basel implementation, which could disadvantage European lenders. This move, backed by France, raises doubts over the enforcement of the Basel III package, planned to complete by 2025. The new start date for implementing the standards related to the fundamental review of the trading book will be at the start of 2026.
June 18, 2024
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