UK delays Basel III implementation

The U.K. moved the implementation of remaining Basel III banking standards to after March 2023.

In the U.K.'s regulatory initiatives grid, the government set the publication of a consultation paper into the banking standards in the second half of 2022 while the deadline for the implementation will start on Jan. 1, 2023.

The move comes after the EU proposed to implement the rules from 2025, two years later than the initial launch date.

In May 2020, the U.K. postponed the implementation of the Basel III standards due to the COVID-19 pandemic.