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Industry update

Basel III update: near-final requirements and feedback published

We’ve published near-final Basel III requirements. The changes follow our latest consultation on large exposures and related prudential rules. We’ll proceed as planned, making minor updates to reflect the final UK rules and provide additional clarity.

Feedback summary

We received feedback from all Jersey incorporated banks. Overall, respondents supported our approach.

We’re making a few updates based on feedback and provide more clarity in some areas. 

The key changes to what we originally proposed are:

  • large exposure limits: we will correct the de minimis threshold for bank exposures to £130 million, remove the current 800% aggregate limit and remove the additional requirement for foreign currency exposures
  • alignment with final UK rules: we have updated our approach to reflect the Prudential Regulation Authority’s final Basel III rules
  • capital treatment of profits: banks will be able to include final profits in capital where these have been formally confirmed, even if not yet audited

Read our full feedback on the Basel III Prudential Roadmap: large exposures and general matters.

Next steps

You can review the near-final Basel III rules on our website, and send us your feedback by 12 July 2026.

We’ll publish the final prudential codes in July 2026. The new framework will take effect from 1 July 2027, with an optional early transition from 1 January 2027.

Contact us

Contact our Policy team if you have any questions or feedback.