On 27 March, the Basel Committee on Banking Supervision (BCBS) announced its deferral of the implementation of the final Basel 3 package (Basel 4) by one year to 2023 in response to COVID-19.
In perhaps the most significant concession for banks, the Basel Committee’s oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), announced deferral of the implementation deadlines for Basel 4, in order to provide additional operational capacity for banks and supervisors.
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