FRANKFURT Dec 11 The Bundesbank expects the
Basel III capital rules for banks to be introduced soon and is
confident of the U.S. commitment to the new global standards
that are aimed at improving banks' ability to withstand
"I am confident that we'll be able to introduce Basel III
quickly in Europe, even if it won't be on Jan. 1, 2013,"
Bundesbank board member Andreas Dombret told Reuters.
Ten countries will be ready for that official start date,
including major financial player Japan, Dombret pointed out.
The United States is also facing a delay in bringing in the
new rules, as authorities there carefully review a raft of
comments from the industry.
"I have the firm impression that the United States is taking
its agreement to Basel III very seriously and is working to
complete the process rapidly."
"I think we'll see progress also there in the first half of
the year," Dombret said.
(Reporting by Jonathan Gould, Andreas Framke and Alexander