The European Commission invites the European Banking Authority to update its advice on implementation of final Basel III reforms

07.09.2020

The European Commission sent the European Banking Authority (EBA) a call for advice on the implementation of the final Basel III reforms considering the impact of the COVID-19 pandemic. In line with the Basel Committee on Banking Supervision’s extension of the implementation deadline of the final Basel III standards to January 2023, the European Commission revised its planning and invited the EBA to update its previous advice on the different parts of the final Basel III reforms. This advice will be considered as the European Commission prepares the impact assessment that will accompany the legislative proposal on the final elements of the Basel III framework.