The Basel Committee has made further progress towards the finalisation of the Basel III reforms.
Committee members reiterated their broad support for the key features of these reforms, which include revisions to the risk-weighted asset framework, the leverage ratio framework and the output floor. The differences, where they remain, have narrowed and work continues to reach an agreement.
While the finalisation of Basel III will take longer than originally expected, the Committee remains determined to reach agreement on the remaining elements, and recognises the importance of providing clarity and certainty to all market participants.
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