The Basel Committee on Banking Supervision today announced that it will delay the implementation of outstanding capital standards—commonly referred to as “Basel IV”—to allow banks to focus their resources on navigating the coronavirus pandemic. The standards, originally set to be implemented on Jan. 1, 2022—will now have an implementation date of Jan. 1, 2023. The committee also extended the accompanying transitional arrangement for the output floor to Jan. 1, 2028.
Also delayed until Jan. 1, 2023, are the implementation date of the revised market risk framework finalized in January 2019, and the implementation date of the Pillar 3 disclosure requirements finalized in December 2018.
