FRANKFURT: Germany's central bank still aims for a deal on new global banking rules this month, a top official said on Wednesday, even though Donald Trump's US presidential victory has cast doubts over Washington's position.
The Basel Committee of global bank supervisors is negotiating stricter bank capital rules - due to be discussed at a meeting this month and approved in January - to avoid a repeat financial crisis.
It is unclear whether President-elect Trump would seek to change the rules or if he would be able to do so given that he is only due to take office on January 20.
Asked about whether Trump's win could get in the way of a deal, Bundesbank board member Andreas Dombret said he was against a postponement.
"We have a very clear intention not to postpone but to conclude," said Dombret, the Bundesbank's top official for bank regulation.
The Basel committee meets in the Chilean capital Santiago on Nov. 28-29 to finalise the Basel III rules, which set curbs on models used by some banks to determine capital buffers after regulators found huge variations in calculations.
As originally proposed, banks in the EU would be hit harder than elsewhere due to the impact of a new "floor" to stop capital requirements from falling too low, setting the stage for a confrontation between US and European regulators But European supervisors said this month progress had been made on these issues.
Dombret had said in a speech on Tuesday that the Bundesbank was open to co-operation with the new US administration but would not seek an agreement "at any price".
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