Global banking regulators 'looking for consensus'

13 March 2012

Worldwide regulators in the banking industry want to reach consensus on reforms to the liquidity rules faced by financiers later this month, an official has said.

According to Rene van Wyk, the South African representative on the Basel Committee on Banking Supervision, policymakers on the panel will consider the criticisms of these terms put forward by some governments and banks when they meet on 20 and 21 March.

In an interview with Bloomberg, Mr van Wyk noted that the board intends to discuss whether or not alterations need to be made on the grounds that the current rules are a threat to the global economic recovery.

He indicated that the group will "present some calibration points and technical calculations", but will not look to change the "fundamentals" of the terms.

This comes after John Forbes, real estate funds partner at PwC, said the new Basel III regulations may have a negative impact on commercial property lending.

By Asim Shah

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