The Bank of England has decided to delay the implementation of the Basel 3.1 banking reforms by another year, now targeting January 2027, due to concerns regarding clarity in the US.
This delay is influenced by the lack of clarity in the US regarding the Basel 3.1 rules, amid ongoing discussions about banking competitiveness and growth.
Chancellor Rachel Reeves has engaged with financial watchdog leaders, emphasizing the importance of supporting economic growth and ensuring that regulations do not inhibit competitiveness.
The PRA remains cautious, indicating that while it anticipates the rules will be implemented by 2027, it will continually monitor the evolving landscape to reassess the timing.
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