Entry Submitted by DW in SC at 6:44 PM ET on March 30, 2023
CLARIFICATION – Regardless of what some “gurus” are saying, Basel III and Basel IV rules do not apply to nearly all medium size and virtually no small size banks within the USA. This means THESE BANKS WILL NOT BE CLOSED DOWN for non-compliance to Basel!
The standards established by the Basel accords are voluntary. The Basel Committee on Banking Supervision has no enforcement powers but relies on each participating nation’s regulators to implement them.
Basel III: Basel III standards are minimum requirements which apply to internationally active banks. Basel III was originally slated to begin in 2015, but the deadline was pushed back several times and started to roll out Jan. 1, 2023, although certain provisions are already in effect in some countries. Basel III: international regulatory framework for banks (bis.org)
Basel IV: Began implementation on Jan. 1, 2023, although its full adoption is expected to take until 2025 and the stages of implementation vary by country.
Chart of Globally Systemic Important Banks: Global systemically important banks: assessment methodology and the additional loss absorbency requirement (bis.org)
If your bank is NOT on this list – QUIT SWEATING ABOUT BASEL III or IV!
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