The Basel Committee on Banking Supervision said eight nations, including China and the US, are behind in their efforts to implement the Basel 2.5 capital rules for banks. The group said China and Saudi Arabia have made limited progress in implementing the rules, while the US, Argentina, Turkey, Russia, Mexico and Indonesia have yet to implement any of the rules. The panel also called on regulators to ensure they meet the looming deadline for adopting Basel III. "Full, timely and consistent implementation of the new capital standards by internationally active banks is a top priority for the Basel committee," said Stefan Ingves, chairman of the group.
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