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Basel III non-compliant countries may be penalised
- Middle East: Monday, November 05 - 2012 at 02:19
Juan Manuel Valle, head of banking supervision at the Mexican Treasury, has said countries may face sanctions if they fail to implement new rules aimed at safeguarding the global banking system from another financial crisis, Reuters has reported. "For the ones that don't have regulations in place in January, the question will be, what kind of punishment will they face?" he told the news service on the sidelines of Group of 20 meetings, adding that details would only be worked out after countries become "non-compliant."
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