Meyer: Basel rules take time, need bank support

US - New rules on risk management and bank capital standards will take longer to set up than either banks or regulators want but they are too complicated to rush, Federal Reserve Governor Laurence Meyer said in a speech on Monday 15 October.

"If we imposed a flawed structure on the industry, we would be doing a disservice to the banking industry and shirking our public responsibilities. Thus, we will continue to try to get it right, even if it means more delay and modification to time schedule