US must clarify degree of Basel III implementation: Bini Smaghi
Lorenzo Bini Smaghi, a member of the executive board at the ECB, last Thursday raised several concerns on the commitment by non eurozone countries- in particular, the US- to implement the forthcoming Basel III proposals, and said more planning had to be done to enforce the new measures on banking reform.
At a meeting in Venice, Bini Smaghi said that despite a commitment to establish new rules no later than the G20 summit this autumn, there was a risk of only partial application in some countries
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