Basel III completion date pushed back

Disagreement on output floors continues

The BIS tower in Basel

Basel III will not receive final approval until later in the year, after it proved impossible to resolve differences between members of the Basel Committee on Banking Supervision in time for a January meeting.

The Group of Governors and Heads of Supervision (GHOS), which oversees the Basel Committee and must give its final approval to the Basel III framework, said on January 3 it was postponing its meeting to allow additional time to forge an agreement.

"More time is needed to finalise some work

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