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basel iii October 19, 2011

Posted by Bradley in : financial regulation , trackback

In contrast to the FSB’s peer reviews the Basel Committee’s review of implementation of Basel II and III published this week does contain some information about methodology. But the description illustrates that the focus on implementation is about formal implementation rather than implementation in substance:

In this report, the following classification is used to classify the status of adoption of regulatory rules:
1. Draft regulation not published: this status corresponds to cases where no draft law, regulation, or other official document has been made public to detail the planned content of the domestic regulatory rules. This status includes cases where a jurisdiction has communicated high-level information about its implementation plans but not detailed rules.
2. Draft regulation published: this status corresponds to cases where a draft law, regulation or other official document is already publicly available, for example for public consultation or legislative deliberations. The content of the document has to be specific enough to be implemented when adopted.
3. Final rule published: this status corresponds to cases where the domestic legal or regulatory framework has been finalised and approved but is still not applicable to banks.
4. Final rule in force: This status corresponds to cases where the domestic legal and regulatory framework is already applied to banks.

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