Published by Global Banking & Finance Review®
Posted on January 17, 2025
1 min readLast updated: January 27, 2026
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The EU is considering its options after the UK delayed Basel bank rules until 2027, stressing the importance of timely global financial reforms.
LONDON (Reuters) -The European Union said on Friday it was considering its options after Britain announced it was delaying implementation of tougher global bank rules until 2027, adding it was in "everyone's interest" to implement the reforms fully and on time.
"(The EU) is now considering which steps to take on this in light of developments in other jurisdictions, including the US and the UK," Olof Gill, spokesperson for financial services for the European Commission, said in an emailed statement.
The EU last year delayed implementation of the Basel rules to January 2026.
"International standards set common requirements with the double objective to ensure that banks are resilient and that they compete globally on similar terms," Gill said in the statement.
"The EU is firmly committed to Basel standards and considers that it’s in everyone’s interest to implement them fully and on time."
(Reporting by Iain WithersEditing by Tommy Reggiori Wilkes)
The article discusses the EU's response to the UK's delay in implementing Basel bank rules and the importance of global financial reforms.
The EU is concerned because delayed implementation could affect global banking competition and financial stability.
Basel bank rules are international banking standards aimed at ensuring banks are resilient and compete on similar terms globally.
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