Basel III Progress Report: Some Jurisdictions' Banks Struggling to Adjust IT Systems to Meet Requirements

The Basel Committee on Banking Supervision also found "significant gaps" in data accuracy and adaptability.

The Basel Committee is headquartered in Basel, Sweden.

The report, which is the seventh of its kind and looks at the implementation progress of member jurisdictions for Basel III requirements, was a product of the Committee's Regulatory Consistency Assessment Program. The program, according to the report, monitors progress adopting Basel III standards; assesses constancy among national and regional banking regulations with Basel III standards; and analyzes outcomes from the regulations.

The Committee found key progress has been made around risk-base

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