Newsletter September 2013: Significant progress in Basel III implementation seen

BASEL – “Considerable progress” has been made in the implementation of the Basel III capital framework over recent months, say international regulators in their latest status report to leaders of the Group of 20 leading economies. Of the 27 countries that comprise the Basel Committee, which drafted the new capital standard for banks, some 25 have now issued the final set of regulations necessary for implementation. The remaining two countries, Indonesia and Turkey, have draft rules in place and are making efforts to finalise them. Most recently, the European Union and the US issued final regulations in June and July, respectively.