About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Basel IV Delayed Amid Coronavirus Chaos

Subscribe to our newsletter

The Basel Committee has delayed the implementation of Basel IV by a year following intense lobbying from the financial industry due to the coronavirus chaos, with a new deadline of 1 January, 2023.

The Committee’s oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), last Friday endorsed a set of measures to provide additional operational capacity for banks and supervisors to respond to the immediate financial stability priorities resulting from the impact of the coronavirus disease on the global banking system.

“It is important that banks and supervisors are able to commit their full resources to respond to the impact of Covid-19. This includes providing critical services to the real economy and ensuring that the banking system remains financially and operationally resilient. The measures endorsed by GHOS aim to prioritise these objectives and we remain ready to act further if necessary,” said François Villeroy de Galhau, Chairman of the GHOS and Governor of the Bank of France.

The implementation date of the Basel III standards finalised in December 2017 (and widely referred to as Basel IV) has now been deferred by one year to 1 January, 2023, while the accompanying transitional arrangements for the output floor has also been extended by one year to 1 January, 2028.

In addition, the implementation date of the revised market risk framework finalised in January 2019 has been deferred by one year to 1 January, 2023, along with the deadline for the revised Pillar 3 disclosure requirements.

“The revised timeline is not expected to dilute the capital strength of the global banking system, but will provide banks and supervisors additional capacity to respond immediately and effectively to the impact of Covid-19,” says the Committee. However, the group also reiterated its expectation of “full, consistent and timely implementation of all standards” based on the revised timeline.

“Current events demonstrate once again the importance of a resilient financial system, which these reforms will help further reinforce,” it said.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Trade/Order Tracking & Time-Stamping for Regulatory Compliance

At the beginning of 2018 in Europe, and before the end of 2017 in the US, new time-stamping requirements will come into force, under European MiFID II regulation and the US SEC’s Consolidated Audit Trail (CAT) project. The RTS 25 provision of MiFID II sets exact millisecond and microsecond levels for time-stamp accuracy depending on...

BLOG

A-Team Group Announces Winners of the 2025 RegTech Insight Awards (USA)

A-Team Group is delighted to announce the winners of the 2025 RegTech Insight Awards USA, recognising the leading providers of RegTech solutions, and consultancy services for capital markets across North America. Spanning more than 30 categories, the 2025 awards programme recognised excellence across a wide range of regulatory compliance solutions and services. A-Team Group also presented...

EVENT

RepRisk Sustainability Breakfast Roundtable London

The London sustainability breakfast is part of the global roundtable thought leadership event series hosted by RepRisk in key markets, including, New York, Toronto, London, Frankfurt, Oslo, Copenhagen, Stockholm, Hong Kong and Singapore in 2026.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...