On 3 April 2020, the Basel Committee on Banking Supervision (Basel Committee) announced certain additional measures to alleviate the impact of the COVID-19 pandemic on the global banking system. The additional measures are:

  • technical clarifications as regards the treatment of extraordinary support measures related to COVID-19;
  • the Basel Committee will be amending its transitional arrangements for the regulatory capital treatment of expected credit loss accounting. The adjustments will provide jurisdictions with greater flexibility in deciding whether and how to phase in the impact of expected credit losses on regulatory capital;
  • the Basel Committee and the International Organization of Securities Commissions have agreed to defer the final two implementation phases of the framework for margin requirements for non-centrally cleared derivatives by one year; and
  • the Basel Committee will conduct the 2020 global systemically important bank assessment exercise as planned, based on end-2019 data, but has agreed not to collect the memorandum data included in the data collection template.