Basel III regulatory consistency assessment (Level 2) - Preliminary report: European Union

This report presents the conclusions of an assessment by the Basel Committee of the progress of the European Union (EU) in implementing the Basel capital standards. 

The assessment is based mainly on draft legislation, in particular the compromise proposal agreed by the 5th EU Council Presidency on 15 May 2012. Considering the draft nature of the compromise proposal and in accordance with the Committee's agreed procedures for conducting a Level 2 assessment, this assessment is considered preliminary. A follow-up assessment will take place once the EU authorities have published the final rules that implement Basel III.