The oversight body of the Basel Committee today reaffirmed its commitment to implementing in full the Basel III regulatory framework. The aspects of the 2017 framework that still remain to be implemented “seek to address some of the weaknesses in the regulatory framework that were exposed by the [2008 financial crisis], including by reducing excessive variability in risk-weighted assets and improving the comparability and transparency of banks’ risk-based capital ratios,” the committee noted.
The committee also reappointed Pablo Hernandez de Cos, governor of the Bank of Spain, as chair of the Basel committee for a second term, which will begin on March 7.
