Executive Summary

The first half of 2023 saw significant progress in the implementation of Basel III reforms, with particular emphasis on the revised market risk capital framework - the Fundamental Review of the Trading Book (FRTB) regulation. While India and China have published consultation papers on FRTB, regulators such as the Hong Kong Monetary Authority (HKMA), Japan’s Financial Services Agency (FSA) and the Australian Prudential Regulation Authority (APRA) have revised their initial expected FRTB implementation timelines.

In this paper, we present the summary of FRTB implementation across the Asia-Pacific (APAC) region, highlighting key challenges specific to the region, proposed timelines, and a comparative approach across regional jurisdictions.