Global banking regulators postpone approval of new rules

Global banking regulators on Tuesday postponed the approval of new capital rules designed to avert a repeat of the financial crisis, saying they needed more time to finalise the long-awaited and contentious reform. After failing to strike an agreement in Chile late last year, the Basel Committee said on Tuesday more work was needed before the new rules could be submitted for approval by its oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS). "More time is needed