Hong Kong, India, Turkey lag behind on Basel III framework

Only Canada, Japan and Saudi Arabia ready for full implementation as January deadline approaches

With less than three months to go before a swath of new Basel III standards becomes mandatory, only three countries – Canada, Japan and Saudi Arabia – have published final rules. Fourteen jurisdictions have made modest progress, while three – Hong Kong, India and Turkey – are still in drafting phase.

A set of revised standards aimed at making the capital framework more robust was finalised in 2017, and later complemented by an overhauled market risk framework in 2019. The agreed date to kick