Basel IV ‘sign off’ meeting delayed

Basel Committee confirms important meeting to finalise reforms to Basel III has been delayed.

A meeting scheduled for early January this year to confirm the Basel IV rules has been postponed, as more time is needed to finalise the regulatory framework.

The Group of Central Bank Governors and Heads of Supervision (GHOS) - which oversees the Basel Committee on Banking Supervision - confirmed it needs more time to “review the package of proposals”.

In a statement, chairman of the Basel Committee, Stefan Ingves, explained the Committee “will keep working to finalise its reforms aimed at fixing shortcomings highlighted by the financial crisis to make banks safer and more resilient.”

The Committee added it expects to complete the review of the proposed rule changes “in the near future”.

News of the delay will please many European banks, with some feeling disempowered over how the Committee and GHOS have implemented the reforms to Basel III.

Chairman of the GHOS and President of the European Central Bank, Mario Draghi, concluded: “Completing Basel III is an important step towards restoring confidence in banks' risk-weighted capital ratios, and we remain committed to that goal.”

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