Kremlin Said to Urge Basel III Delay as Economic Crisis Hits

Updated on
  • Concerns raised about measures forcing banks to cut lending
  • Bank of Russia chief said to oppose any delays to Basel III

Kremlin aides are urging Russia’s central bank to delay introducing tougher capital rules for lenders known as Basel III, arguing they may deepen the worst economic crisis in six years, three people familiar with the matter said.

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