Asian financial leaders fear Basel III derailment

11/27/2012 | Reuters

Worried that delay in U.S. and European implementation of Basel III will eventually lead to abandonment, Asian financial leaders are calling for specified postponement that doesn't extend into years. "The fact is that the U.S. and eurozone are the most important regions where Basel III should have been implemented," said Anand Sinha, deputy governor of the Reserve Bank of India. "It would have been very helpful, even if there is a delay, if the U.S. and eurozone could have indicated a definite timeline; that is not there."

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