Bundesbanker expects Basel III to take effect mid-2013 - report
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)
- Tweet this
- Share this
- Digg this
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
- Hollywood blockbuster 'Noah' faces ban in Arab world
- IndiGo plane evacuated after rear wheel catches fire in Nepal
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- UPDATE 3-U.S. FDA probes cognitive impact of new cholesterol drugs
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article