Commission consultation on Basel III implementation – HM Treasury response
HM Treasury's response to the Commission’s consultation on the EU implementation of international prudential standards.
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The final elements of the Basel III banking reforms were agreed in December 2017, completing the post-crisis reforms aimed at promoting the resilience and stability of the financial sector. The UK, along with other members of the G20, has committed to the full, timely and consistent implementation of the reforms.
The Commission is currently consulting on the EU implementation of the rules. The UK welcomes the Commission’s work in this area. In our response to the Commission’s consultation, we reiterate our international commitment to implementing Basel III, emphasise the need to apply the rules in a proportionate manner and comment on a number of technical issues.