ECB ‘confident’ new global bank rules will be agreed this year

A top European Central Bank supervisor said on Monday she was confident that new global banking rules will be agreed by the end of the year after yet another delay at the weekend in their decade-long preparation.

“I hope that the latest package of global banking standards – Basel III – will be completed this year,” Sabine Lautenschlaeger, the ECB’s board member in charge of bank supervision said in Washington.

“And I am still confident that this will be the case.”

Lautenschlaeger expressed worry, however, that “some financial centres might not implement significant parts of the agreed framework”.
Source: Reuters (Reporting By Francesco Canepa; Editing by Robin Pomeroy)

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