On Monday 2 September, the Chair of the Single Supervisory Mechanism (SSM) at the ECB, Claudia Buch, warned against any delay in the European Union in implementing the ‘Basel III’ package strengthening banking prudential requirements, including the provisions relating to the market activities of investment banks (‘FRTB’), the application of which is expected to be postponed by one year, to January 2026 (see EUROPE B13460A9).
“It is crucial that [the Basel III package] is...