ECB's Lautenschlaeger expects Basel III deal by year end
Tweet
Share
E-mail
European Central Bank (ECB) executive board member Sabine Lautenschlaeger attends at a news conference at the ECB in Frankfurt October 26, 2014. REUTERS/Ralph Orlowski
VIENNA (Reuters) - A deal on a new set of global rules aimed at ensuring stability in the banking sector, known as Basel III, is likely to be reached this year, a top European Central Bank supervisor said on Thursday, adopting a more optimistic tone than most.
Regulators on the Basel Committee have been struggling to complete Basel III, a set of tougher capital rules for lenders worldwide.
"I expect that an agreement will be reached by the end of the year," Sabine Lautenschlaeger told a news conference in Vienna, adding that failure to reach a deal would be "a big mistake".
(Reporting by Francois Murphy; Editing by Toby Chopra)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hyundai Motor's union stages first full strike in 10 years over wage talks
- Australian police recover body of missing teenage hiker near Sydney
- Japan manufacturing expands as orders rise fastest since 2018, PMI shows
Create E-mail Alert Related Categories
ReutersRelated Entities
European Central BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
