FIN.

BoE to consult on Basel 3.1 at end of 2022

BoE has confirmed that it is continuing to develop proposals to implement Basel 3.1, following the two PRA policy statements of 2021. It notes that the timing of implementation was dependent on a number of factors, not least the agreed delay because of the pandemic, the need to respond to other priorities, and background work PRA had to do.   However, it has now announced that there will be a consultation paper in Q4 2022, and it also plans to propose the changes will not take effect until 1 January 2025.

Emma Radmore