Only 11 out of 27 members of the Basel Committee have approved rules to implement the Basel-III accord, according to an update from the committee released this week.
The Progress report on implementation of the Basel regulatory framework provides a high-level view of Basel Committee members' progress in adopting Basel II, Basel 2.5 and Basel III. 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 latest report updates the Committee's October 2012 report to G20 Finance Ministers and Central Bank Governors on implementation of the Basel regulatory framework.
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