Barnier Says EU May Broker Deal on Basel III Bank Law Next Week
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Michel Barnier, the European Union’s financial services chief, said EU lawmakers and governments may reach an accord next week on how to implement Basel III bank capital and liquidity rules.
The law, held up amid clashes on banker bonuses, leverage limits and liquidity ratios, should take effect “as soon as possible in 2013,” Barnier said in a prepared remarks for a meeting of finance ministers in Brussels today.