Banks Struggle To Implement Financial Rules

A high level panel reporting to the Group of twenty has revealed that the world’s largest banks are struggling, and often failing, to implement financial rules designed to patch up the problems which caused the financial crisis. The rules, designed by the Basel Committee for Banking Supervision, have not been implemented on schedule by banks in the world’s developed economies. The Basel 2.5 rules were supposed to come into effect at the end of last year and precede the implementation of Basel III rules, implementation of which is supposed to start in 2013. The regulations are designed to stop banks…