Eurosystem calls for full Basel III implementation
Supervisors say output floor should be implemented through single set of risk-weighted assets
European supervisory authorities called for the full implementation of the Basel III framework in the European Union in a joint letter on September 7.
The European Central Bank (ECB), the European Banking Authority (EBA), and 25 central banks and national supervisors stressed this step is crucial to protect financial stability and allow stronger growth in the continent.
“We recognise that the Covid-19 pandemic created the need for exceptional measures,” said EBA chair Jose Manuel Campa, ECB
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