The Basel Committee on Banking Supervision discussed the progress of its members in implementing the Basel III capital adequacy reforms at its recent meeting on 13-14 December.

The Basel Committee has been actively monitoring on a continuing basis the progress of members in implementing the Basel III package of regulatory reforms and to date has published three progress reports on two reports to the G20.

The Chairman of the Basel Committee noted that while some jurisdictions have not been able to meet the planned start date, a large number will be ready to begin introducing the new capital requirements as planned on 1 January 2013.