Openness of the European Commission to complaints from EU banks on the application of Basel 3. Internal Market Commissioner Michel Barnier "wants to work for a coordinated approach with the United States".
The rules "will enter into force gradually until 2019", so "we have to start in 2013", continued Barnier, but the problem of the calendar "must be examined at the end of the negotiations between the EU Council and the European Parliament, which we hope will happen in the next weeks".
The introduction of the new rules on capital requirements was postponed by the US to 2014 e the institutions of the Union have asked Brussels to do the same to avoid a competitive disadvantage compared to overseas competitors.
According to Barnier, "the fundamental question is to conclude the negotiations between the Council and the European Parliament". The European head of the internal market is actually worried by the fact that the USA has not yet indicated any date for starting the implementation of the new international banking rules.
