While Basl 3 has been in the news for a long while now, it has been delayed many times and I don't see it having an impact for a few more years yet. Although the agreement was "binding" they seem to be free to push the implementation date back at-will, now out to 2023 or possibly even 2025?
EU says more time needed to put in place bank capital rules
Brussels delays until 2025 the implementation of final phase of Basel III reforms
Brussels has defended its decision to grant European banks more time to implement new rules on bank capital, saying supervisors need longer to prepare while lenders focus on financing the post-pandemic recovery.
The European Commission confirmed on Wednesday that the new EU rules to implement the final part of the Basel III agreement will come into effect in 2025. The reforms had been due to come into force by 2023 under the global accord.
Valdis Dombrovskis, executive vice-president at the commission, said he was open to international discussion on the topic, but that Europe needed the extra time to pass the required legislation, some of which had to be enacted by individual member states.
RRL Price at posting:
$1.94 Sentiment: Buy Disclosure: Held
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(20min delay)