On 3 July 2024, the Basel Committee on Banking Supervision (Basel Committee) issued a press release following its meeting on 2 and 3 July 2024.

At this meeting, the Basel Committee:

  • Approved a finalised disclosure framework for banks’ cryptoasset exposures which includes a standardised set of public tables and templates. The framework will be published later this month. The implementation date will be 1 January 2026.
  • Approved a set of targeted revisions to the cryptoasset prudential standard to promote consistent understanding, particularly as regards the criteria for stablecoins to receive a preferential ‘Group 1B’ regulatory treatment. The updated standard will be published later this month, with an implementation date of 1 January 2026.
  • Approved adjustments to the specified interest rate shocks in the standard on interest rate risk in the banking book. The updated standard will be published later this month, with an implementation date of 1 January 2026 for the adjustments.
  • Agreed to consult on principles for the sound management of third-party risk which will supersede the existing guidance on outsourcing in financial services with respect to the banking system.
  • Reviewed comments on its consultation on a Pillar 3 disclosure framework for climate-related financial risks.