Finance
UK Delays Bank Rules for a Third Time on Trump Uncertainty
- Regulations to be implemented Jan. 1, 2027, central bank says
- Decision will allow for more clarity to emerge out of the US
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The UK delayed its implementation of a significant update to international bank capital rules for a third time to allow for more clarity over its rollout in the US.
The Bank of England pushed the application of Basel 3.1 by one year to the start of 2027 citing “the current uncertainty around the timing” of the standards in the US. The decision also reflects “competitiveness and growth considerations” and was taken after consultations with HM Treasury, the BOE said in a statement on Friday.