On 27 March 2020, the Basel Committee on Banking Supervision (Basel Committee) announced the following changes to its implementation timeline of the outstanding Basel III standards:

• implementation date of the Basel III standards finalised in December 2017 has been deferred by one year to 1 January 2023. The accompanying transitional arrangements for the output floor has also been extended by one year to 1 January 2028;
• implementation date of the revised market risk framework finalised in January 2019 has been deferred by one year to 1 January 2023; and
• implementation date of the revised Pillar 3 disclosure requirements finalised in December 2018 has been deferred by one year to 1 January 2023.