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Regulator apologises for ‘Basel IV’ bank rules delay 

November 27, 2017

FT, Laura Noonan

"Singapore central bank boss Ravi Menon has apologised to banks for the lengthy delays to a new package of global regulatory reforms that may finally be agreed by December 7.

Mr Menon, who sits on the supervisory body of the Basel Committee on Banking Supervision had originally hoped to seal the package by the end of last year. But a drawn-out row about the calibration of one part has made the process drag on, creating uncertainty for banks which must comply with the regime by 2019.

“It is frustrating and, yes, I’m apologetic to the industry that regulators haven’t been able to finish this, especially when you’re so close,” Mr Menon told the Financial Times in an interview"

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