* German bank lobby asks for capital rules delay
* BdB says competitive disadvantage should be avoided
* BdB picks Deutsche Bank's Fitschen as chief lobbyist
(Adds detail, background, additional quote)
FRANKFURT, Nov 26 Germany's BdB bank association
has urged European regulators to delay new Basel III bank
capital rules until 2014, arguing European banks would be at a
competitive disadvantage if they introduced the rules before
"The introduction of Basel III in the European Union should
be as closely timed as possible with the U.S. and in no way
should it occur before the start of 2014," BdB president Andreas
Schmitz said on Monday.
"Because a date for introduction by American banks cannot be
foreseen, Europe should seek to avoid a competitive disadvantage
for domestic institutions," Schmitz added.
The European Banking Federation last week wrote to EU
regulation commissioner Michel Barnier to ask for a delay of the
introduction of Basel III to 2014 from a planned start date of
The BdB represents Germany's private-sector banks, including
the country's top two lenders, Deutsche Bank and
Germany's Finance Ministry on Monday said it expected only
minimal delays to the introduction of Basel III in the European
Union despite the fact U.S. regulators cast doubt on the
timeframe due to a flood of industry comments on the proposals.
The Basel III bank rules are the world's regulatory response
to the 2007-09 financial crisis and would force banks to triple
the amount of capital they hold in a bid to avoid future
Responding to the banks, the European Commission said it
would seek a coordinated approach with the United States but
added it was important to wrap up internal European discussion
of the rules, so that they could start being applied in 2013.
BdB also said it had elected Deutsche Bank co-chief
executive Juergen Fitschen to become chief lobbyist for the
association from April 15.
(Reporting by Jonathan Gould; Writing by Edward Taylor; Editing
by Mark Potter)