The Federal Council has now reaffirmed that the finalized Basel III standards will take effect in Switzerland on January 1, 2025. According to a statement released on Wednesday, the Council has taken note of the latest developments and, despite "delays in some countries," sees no reason to deviate from the current schedule.

The reform package of the international Basel Committee on Banking Supervision (BCBS) aims to strengthen the solvency and liquidity of banks. Among other measures, it requires that risk-laden areas of banking be backed by more capital, while less risky areas can be backed by less capital.

The Federal Council has instructed the Federal Department of Finance (FDF) to inform it about the status of the international implementation of the standards by the end of July 2024.