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The Basel Committee on Banking Supervision issued today its first Progress report on Basel III implementation. The report provides a high-level view of Basel Committee members' progress in adopting Basel II, Basel 2.5 and Basel III, as of end September 2011. It focuses on the status of domestic rule-making processes to ensure that the Committee's capital standards are transformed into national law or regulation according to the internationally agreed timeframes. The Committee believes that disclosure will provide additional incentive for members to fully comply with the international agreements. Mr Stefan Ingves, Basel Committee Chairman and Governor of Sweden's central bank, said that "a critical first step in the Basel III implementation process is to ensure that all of our members...
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