Latest Basel Meeting Delayed in Bid to Reach Bank Capital Deal
According to a recent Reuters article, global banking regulators are set to postpone their next scheduled Basel Committee on Banking Supervision (BCBS) meeting, in hopes of allowing for time to overcome objections from European banks on minimum capital levels. The next meeting was set for mid-September, however, it is now expected to take place in early October, according to Reuters.

The BCBS has been trying to reach a deal since last year on Basel III, but European banks have been reluctant to accept a "floor" or minimum level of capital a big bank must hold.

The general consensus among observers is that the United States seeks a floor equivalent to 75 percent of the amount standard regulatory capital calculations, while Europe seeks a level closer to 70 percent.

Frederic Oudea, CEO of French bank Societe Generale said, "Clearly, Europe remained united in the last (Basel) meetings. I think there is a clear awareness and understanding in different (EU) countries of what is at stake." Despite the delay, central bank governors such as the U.S. Federal Reserve's Janet Yellen, the European Central Bank's Mario Draghi, and Bank of England chief Mark Carney continue to push for a deal that would allow the banking sector and regulators to move on.

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