UK to Delay Implementing Basel III Banking Regulation Reforms, FT Reports

--The U.K. will delay implementing new global banking regulation, known as Basel III rules, the Financial Times reports, citing unnamed source .

--The Bank of England is preparing a July 2025 implementation deadline, lining up with the U.S., but later than the planned January 2025 date, according to the FT.

--The BOE also intends to shorten the five-year phase-in period to the reforms by six months and delay finalizing certain rules, the FT says.

Full story: https://tinyurl.com/yckh2cjc

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(END) Dow Jones Newswires

09-25-23 0451ET