The Basel Committee has reiterated its expectation that all aspects of the Basel Framework should be implemented as consistently and fast as possible. More than 66% of jurisdictions plan to implement all or most of the standards in 2023 or 2024.
It has also confirmed the Committee is working on:
- climate-related financial risks, taking a holistic approach to developing and assessing potential measures on disclosure, supervision and/or regulation; and
- crypto assets, focusing on the need for a robust and prudent regulatory framework for banks’ exposures to cryptoassets that promotes responsible innovation while preserving financial stability.