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Basel Committee to postpone bank capital rules meeting

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Basel Committee to postpone bank capital rules meeting

The Basel Committee on Banking Supervision is expected to delay its next meeting to early October, so it has more time to come up with global capital rules that are universally acceptable, "people familiar with the talks" told Reuters.

The postponement of the meeting, which was first scheduled for mid-September, will give officials additional time to overcome objections from European banks to a floor, or minimum level of capital they must hold, according to the sources.

They said the U.S. is seeking a floor equivalent to 75% of the amount calculated by standard regulatory capital models used by smaller banks, and that Europe is looking for a floor of more like 70%. Capital elsewhere in the Basel III reform package could be increased if the 70% floor is chosen, and vice versa, the sources said.