On March 19th, the Basel Committee on Banking Supervision discussed the results of its Basel III monitoring exercise. A total of 210 banks participated in the semi-annual study which analyzes the risk-based capital ratio, the leverage ratio, and the liquidity metrics using data collected by national supervisors on a representative sample of institutions in each jurisdiction. Assuming full implementation of the Basel III requirements, including changes to the definition of capital and risk-weighted assets, and ignoring phase-in arrangements, Group 1 banks would have an overall shortfall of €3.7 billion for the CET1 minimum capital requirement of 4.5%, which rises to €208.2 billion for a CET1 target level of 7.0% (including the capital conservation buffer). BIS press release.