BoE to delay global banking reform implementation but shorten phase-in period - reports

Basel III reforms

The Bank of England is set to delay its implementation of global banking reforms by six months, bringing the UK’s timeline in step with the approach of the US.

According to reports from the FT, the BoE is preparing to reveal a July 2025 implementation deadline over the coming weeks, a shift from the previous target date of January 2025. However, the Bank is also set to shorten the five-year phase-in period by six months and delay finalising certain rules. JPMorgan's Dimon warns bank stocks will suffer under US capital rules This move also pushes the UK out of sync with the EU, which maintains its January 2025 deadline, although a senior EU regulator told the FT that while the bloc could still extend its implementation, it is "not such a ...