Article source
CNBC
Article date
Thu, Oct 12, 2017
WASHINGTON, Oct 13 (Reuters) - Global banking regulators won't agree a deal this weekend to complete rules aimed at ensuring banks hold enough capital in a crisis, three senior central bank officials said on Friday.
The Basel Committee wants to complete its "Basel III" accord, a set of rules it began writing in the aftermath of the global financial crisis that began a decade ago.
"No deal is coming here," one of the central bankers said on the sidelines of International Monetary Fund meetings in Washington.
France is refusing to back a compromise on the new rules unless other conditions are met, the central bankers said.
The bulk of the Basel III accord is already being applied by lenders, but one key hurdle remains to its completion.