November 29, 2016 / 9:41 PM / a year ago

Basel Committee head says 'great progress' made in Chile meeting

SANTIAGO, Nov 29 (Reuters) - The Basel Committee, which sets the standard for global banking regulation, made “great progress” in meetings on Monday and Tuesday in Chile, said William Coen, the committee’s secretary general.

The financial watchdogs are gathered to try to finalize global rules on bank capital, the so-called Basel III.

“We’ve made really great progress these last couple of days,” Coen told Reuters on the sidelines of a meeting in Santiago.

Reporting by Anthony Esposito; Writing by Rosalba O'Brien; Editing by Peter Cooney

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