Basel Committee commits to full implementation of Basel III and strengthens credit risk management guidelines
bis.org —
The Basel Committee on Banking Supervision met on November 19-20, 2024, and reaffirmed its commitment to fully implement the Basel III framework as soon as possible. This decision aligns with recent statements from G20 finance leaders. The Committee finalized guidelines to improve banks' management of counterparty credit risk, addressing weaknesses revealed during recent financial distress. These guidelines will be published next month. Additionally, the Committee is working on tools to enhance supervisory effectiveness, focusing on liquidity and interest rate risks. An update on this initiative will be released in early 2025.