EU to delay core element of Basel bank capital reforms by one year

LONDON, June 18 (Reuters) – The European Union will delay a core element of global reforms to bank capital rules by one year to January 2026, the bloc’s financial services chief said on Tuesday, to ensure a level playing field between EU banks and their U.S. rivals.

Countries are introducing the last batch of a global bank capital accord known as Basel III, rolled out after taxpayers were forced to bail out lenders in the global financial crisis of 2007-09.

Source: REUTER