Basel III December 7 2017 (Forthcoming CRR III)
On December 7 2017 the Basel Committee agreed the outstanding Basel III post-crisis regulatory reforms. These will be implemented in the EU as part of CRR III.
The Basel III framework is a central element of the Basel Committee’s response to the global financial crisis. It aims to address a number of shortcomings in the pre-crisis regulatory framework and provides a foundation for a resilient banking system to avoid the build-up of systemic vulnerabilities. A key objective of the revisions incorporated into the framework is to reduce excessive variability of risk-weighted assets (RWA).
Now that it has been agreed, AFME is working closely with EU regulators as they seek to implement it in the EU. We will be supporting our Members as they take part in the EBA QIS exercise, and work with Commission as they draw up the CRR3 proposals expected in early 2020. AFME’s positions on the various elements of the Basel III package from December 2017 can be found below.
Véronique Ormezzano, Chair
Joe Traynor, Vice-Chair
J.P. Morgan Chase Bank, NA
Bank of America Merrill Lynch
Ana Rubio Gonzalez
Crédit Agricole S.A.
Goldman Sachs Asset Management International
Intesa Sanpaolo SpA
Lloyds Banking Group
Morgan Stanley & Co. International plc
Myriam Le Maoult
Gloria Hervas Ortega
Barbara Sillac Gavanou