Japan delays introduction of Basel III capital rules for megabanks - Nikkei

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TOKYO — Japan’s financial regulator will again delay implementation of new capital requirements for large banks as financial markets face growing uncertainty caused by Ukraine crisis, the Nikkei newspaper reported on Tuesday.

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The new standard, known as Basel III, is now set to be implemented for the business year to March 2024, the newspaper said, without citing sources.

The push back is the second such after the Financial Services Agency postponed the implementation by one year from their original plan to the current financial year to March 31, citing business uncertainty caused by the COVID pandemic.

(Reporting by Mariko Katsumura)