BERLIN (Reuters) - An international agreement on bank capital rules known as Basel III may not be implemented until the middle of next year, Handelsblatt reported, citing a member of the German Bundesbank's board.
It is unrealistic to expect the Basel III rules, designed to make the global banking system more resilient in the aftermath of the financial crisis, to take effect on time in January, the newspaper quoted central banker Andreas Dombret as saying.
Dombret, in charge of financial stability on the board of the Frankfurt-based Bundesbank, said he was "very confident" that the United States would implement the new set of Basel rules, according to Handelsblatt.
(Reporting by Andreas Cremer; Editing by Helen Massy-Beresford)
Trending On Reuters
India's parliament began debating the goods and service tax (GST) on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in decades. Article
RBI chief Rajan calls for formal financing routes for farmers - report Full Article
India to host Afghan leader, seeks to regain ground lost to China, Pakistan Full Article