BERLIN 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
Tata Motors shares fell more than 5 percent on Wednesday after a surprise drop in its bottom line, hit by weak demand for luxury Jaguars and Range Rovers in China, where automakers are under pressure to cut prices. Full Article
Factbox - China's leaders sign $80 bln of deals with India, Brazil and others Full Article