UPDATE 1-Germany still reflecting on Basel - Wellink

SEOUL, Sept 3 (Reuters) - Germany has not reached agreement with the Basel committee members on the definition of certain types of capital, the head of the Basel Committee on Banking Supervision said on Friday.

In July, Germany was the only member of the Basel Committee of banking supervisors and central bankers that refused to endorse a draft of the rules, saying they did not take into account the special needs of its state-backed banking sector. [ID:nLDE66Q1YT]

"Germany is still reflecting on its position but we all agree on the ultimate goal that we need a strong, resilient capital position," said the Basel committee chairman, Nout Wellink, on the sidelines of a regulation conference in Seoul.

The committee drafting the new "Basel III" rules will meet in Switzerland next Tuesday, paving the way for a final endorsement of the reforms by leaders of the Group of 20 major nations in November.

So regulators have been trying to hammer out a compromise with Germany before Tuesday's Basel Committee meeting, which is due to decide on new minimum levels of capital which banks will have to hold, and a meeting of the Basel Committee's oversight body on Sept. 12.

Because of Germany's importance in the global banking industry, its support for Basel III is vital for the reforms to be introduced smoothly around the world.