PRA and HMT issue statement on the delay of the implementation of the Basel 3.1 standards

Conclusion

The COVID-19 global pandemic will no doubt have a negative impact on the global financial system, and every attempt at cushioning this impact is to be welcomed. The move by the Basel Committee to defer the implementation of CRD IV should be a welcome reprieve for banks across the EU and in the UK.

Womble Bond Dickinson continues to guide our banking and financial services clients in their response to the challenges presented by the COVID-19 pandemic.

References

  1. ^ here (www.bankofengland.co.uk)
  2. ^ here (www.bis.org)

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