Closed consultation

Implementation of the Basel 3.1 standards

From:
HM Treasury
Published
30 November 2022
This was published under the 2022 to 2024 Sunak Conservative government

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Summary

HM Treasury is consulting on the legislative changes necessary to facilitate the PRA’s implementation of the final set of Basel reforms, introduced following the financial crisis, known as Basel 3.1.

This consultation ran from
to

Consultation description

The Basel 3.1 standards cover the amount of capital banks need to hold against the risks they take and are agreed at international level by the Basel Committee on Banking Supervision (BCBS).

HM Treasury’s consultation largely focuses on the technical and legislative changes necessary to facilitate implementation of Basel 3.1 by the Prudential Regulation Authority (PRA) in line with the approach set out in the Financial Services Act 2021. The consultation also asks for views on improving aspects of the Capital Requirements Regulation, particularly in terms of equivalence, resolution and overseas exchanges.

This consultation opens on the 30 November 2022 and will close on the 31 January 2023 and responses will inform the government’s approach to Basel implementation. Please submit your responses to Prudential.Consultation@hmtreasury.gov.uk

Documents

Consultation: Implementation of the Basel 3.1 standards

Ref: ISBN 978-1-915596-36-9

PDF, 226 KB, 30 pages

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Updates to this page

Published 30 November 2022

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