1.0EBFhttps://www.ebf.euEBIC calls for the postponement of the Basel III implementation date in the EUrich600338<blockquote class="wp-embedded-content" data-secret="6NuEZKUXso"><a href="https://www.ebf.eu/ebf-media-centre/ebic-calls-for-the-postponement-of-the-basel-iii-implementation-date-in-the-eu/">EBIC calls for the postponement of the Basel III implementation date in the EU</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://www.ebf.eu/ebf-media-centre/ebic-calls-for-the-postponement-of-the-basel-iii-implementation-date-in-the-eu/embed/#?secret=6NuEZKUXso" width="600" height="338" title="“EBIC calls for the postponement of the Basel III implementation date in the EU” — EBF" data-secret="6NuEZKUXso" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
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https://www.ebf.eu/wp-content/uploads/2020/07/wjvnfjnvefd.jpg22511472On 20 October, the European Banking Industry Committee (EBIC) submitted a joint letter to the co-legislators asking for a postponement of the Basel III implementation date in the European Union. EBIC strongly supports the ongoing legislative process aiming at finalizing the Banking Package. Given the substantial and comprehensive nature of the forthcoming legislative changes brought about by CRR III, a minimum of 18 months between the publication of CRR III rules in the Official Journal of the EU and the effective implementation date of the new rules will be necessary. Assuming CRR III publication in the Official Journal by end of 2023, EBIC suggests an initial application no earlier than 1 July 2025. Any postponement in the publication would require a further commensurate shift in the CRR III application.