German banking assn asks for delay of Basel III until 2014

FRANKFURT Mon Nov 26, 2012 11:34am GMT

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FRANKFURT Nov 26 (Reuters) - German bank association BdB on Monday appealed for regulators to delay the introduction of new bank capital rules until 2014.

"The introduction of Basel III in the European Union should be as closely timed as possible with the U.S. and in no way should it occur before the start of 2014," BdB president Andreas Schmitz said.

The European Banking Federation last week wrote to EU regulation commissioner Michel Barnier to ask for a delay of the introduction of Basel III to 2014 from a planned start date of January 2013, citing a potential competitive disadvantage for European disadvantage (Reporting by Jonathan Gould; writing by Arno Schuetze)