Wellink says Basel III to be phased in gradually in bid to soothe fears

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New Basel proposals on global capital and liquidity regulations will be phased in gradually, the chairman of the committee on banking reform assured bankers on Friday.

Nout Wellink, the chairman of the Basel Committee and the president of the Netherlands Bank, told bankers gathered at trade body the Institute for International Finance's (IIF) meeting in Vienna that the new proposals on banking reform would be introduced gradually after initial plans to have the rules in place by the end of 2012

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