Committee admits 40% of countries will miss Basel III deadline

Photo by David Lundberg

The Basel Committee on Banking Supervision has released a final list of countries that will not meet the deadline of January 1, 2013 for the introduction of capital requirements under the Basel III framework.

Eight of the 19 jurisdictions covered by the Basel III framework are set to miss the deadline. Argentina, Brazil, the European Union (EU), Indonesia, Korea, Russia and the US all have draft legislation in place but will not have implemented final rules by January 1. Turkey is even further

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