Basel III: Finalising post-crisis reforms

Basel III: Finalising post-crisis reforms, sometimes called the Basel III Endgame in the United States,^[1][2] Basel 3.1 in the United Kingdom,^[3] or CRR3 in the European Union,^[4] are additional changes to international standards for bank capital requirements that were agreed by the Basel Committee on Banking Supervision (BCBS) in 2017 as part of Basel III, first published in 2010. The timeline for required implementation was extended several times, and is now scheduled to go into effect on July 1, 2025 with a three-year phase-in period, with some countries likely to delay implementation further.^[5][6][7]

They have been referred to as Basel IV; however, the secretary general of Basel Committee said in a 2016 speech he did not view the changes as substantial enough to describe them in such a way.^[8]

Critics of the reforms, in particular those from the banking industry, argue that the standards lead to a significant increase in capital requirements, when the stated intention of the Basel Committee was for the changes to the standards to be capital neutral in terms of their aggregate impact, although not necessarily neutral for individual banks.^[5]