From AFP
''The US Treasury announced Friday that it would not implement the
Basel III rules for strengthening banks on January 1, saying the banks
were not yet ready to meet the tougher capital standards.
The
delay comes as US banks have argued that the new capital rules will put
them at a disadvantage to global competitors, especially from Europe.
"Many
industry participants have expressed concern that they may be subject
to a final regulatory capital rule on January 1, 2013, without
sufficient time to understand the rule or to make necessary systems
changes," the Treasury said.''
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