EU talks on bank rules held, after delay

January - February 2013
Brussels, Belgium

Published: 18 Dec 2012 | By Yafit Lazar and 1 other | Last updated: 18 Dec 2012
   
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EU talks on bank rules held, after delay
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EU members states are expected to resume talks to finalise a draft law for the implementation of Basel III, which sets out to regulate banks following the 2007-2009 global economic crisis.

After successful talks in early December, member states were expected to reconvene to discuss final hurdles in reaching a deal on December 18. However, the meeting was postponed, which meant the EU could not meet the January 2013 deadline to implement Basel III.

On the same day the meeting was postponed, Sharon Bowles, the chairwoman of European parliament's economic affairs committee, said there should be wider consultation with lawmakers on current proposals.

With the latest setback, the EU joins another major banking centre, the US, in delaying the introduction of the Basel rules.

Lawmakers are expected to formally delay implementing the rules until January 2014.


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Created by Yafit LazarCreated by Yafit Lazar
on Tue 18 Dec 2012
Modified by Maria MicudovaLast modified by Maria Micudova
on Tue 18 Dec 2012
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Location: Brussels, Belgium
Expected date: January - February 2013
Planning: date is to be announced
Ended: 80 days ago

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