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BASEL III / Trichet expected introduction of new capital rules in USA


Jean-Claude Trichet_17_(c)_Rolf Anders BASEL (Dow Jones) – The new capital and liquidity requirements for banks ( "Basel III ") are available for assessment of the President of the European Central Bank ( ECB) in the U.S. application. (Photo : Anders)

He had " full confidence " that the U.S. supervisors implemented the reform agreed work together , "said Trichet , who chairs the global economy meeting of central bank governors at the Bank for International Settlements ( BIS ) in Basel on Monday. "There is a consensus on these rules , all have contributed to the table . "
The U.S. had the previous directive Basel II , although approved , but implementation is massively delayed, which is also considered as a cause of the financial crisis. Observers now fear that similar approach could be the new capital framework , which would bring competitive disadvantages for banks outside the U.S. with him. Trichet dismissed the back but: " I trust what the U.S. representative to me and my colleagues have said. "
The three supervisors in the U.S. , Federal Reserve, Federal Deposit Insurance Corp ( FDIC ) and Office of the Comptroller of the Currency , had welcomed the regulations in a joint statement on Sunday. By reaching agreement on the new capital rules the world would set in motion changes that led to an improvement of capital and liquidity facilities of international banks, it was said .
Out of concern for a delayed introduction of Basel III in the U.S., France Finance Minister Christine Lagarde and Luxembourg’s central bank governor Yves Mersch had already warned that Europe is not the new rules could introduce its own. The leaders of the G -20 to adopt the recommendations of the Basel Committee at their summit meeting in November in Seoul yet .
In view of the economy said the ECB president, the higher capital requirements would not impede the growth, but rather contribute to stability and growth. The global recovery is proceeding remains uneven, with a very strong growth in emerging markets on the one side and a moderate growth in the industrialized countries. A double- expected recession, Trichet , however. The risk of deflation in the developed world he estimates continue to be low .

– By Natasha Brereton and Nathalie Boschat , Dow Jones Newswires
+49 (0) 69 29725 300, konjunktur.de @ dowjones.com

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