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"What is very important is that we stick as much as possible to original proposals. There might be some adjustments based on specific situations in Europe,burberry outlet online," said Nout Wellink, chairman of the global Basel Committee that authored the new rules.</p>"This happened in the past, also,burberry outlet," Wellink added. In the 27-member European Union,burberry outlet online, Basel III will be transposed into the bloc's law,burberry outlet bags, making them mandatory for banks.
EU financial services chief Michel Barnier said last month there was a need to look very carefully at the "special characteristics" of Europe when applying Basel III,Burberry Outlet 2012, especially its cooperative banks and mutual societies.
World leaders endorsed the rules last month,burberry outlet, and there is concern in Europe that the United States may lag in applying them as it did with Basel II, the current set of capital rules.
"There was a sense of urgency. The U.S. really pushed us to go on. Will the U.S. deliver? I trust they will deliver," Wellink told reporters.
(Reporting by Sakari Suoninen; Editing by Padraic Cassidy)
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