On 20 November 2024, the Basel Committee on Banking Supervision issued a press release which stated that it members unanimously reaffirmed their expectation of implementing all aspects of the Basel III framework in full, consistently and as soon as possible. The press release added that the Basel Committee would be issuing its guidelines for counterparty credit risk management next month and an update on its work concerning the 2023 banking turmoil will be published in early 2025.