The London Bullion Market Association (LBMA) and World Gold Council (WGC) are advocating for gold to be reclassified as a High-Quality Liquid Asset (HQLA) under Basel III regulations. In a recent meeting with the Bank of International Settlements (BIS), they presented data and research supporting this change, which could enhance market stability, improve liquidity, and boost confidence in the financial system. The BIS representatives provided positive feedback and guidance on additional information needed to progress the reclassification. This move could significantly benefit financial institutions and the broader economy by strengthening gold’s role in the global financial system.