Germany has requested the European Union for timely execution of Basel III bank capital rules by January next year.
German Finance Minister Wolfgang Schaeuble told Bloomberg, "I urgently appeal to the European Parliament, the Council and the European Commission to bring the trialog quickly to a successful conclusion."
"Basel III talks are being dragged out in Brussels," Schaeuble added.
The Basel III rules aim to boost bank reserve capital to avoid any collapse in future, while strengthening the global banking system, Bloomberg reports.
Germany has inked a legislation approving the new global standards on bank capital and liquidity, thus sending a message to the EU members and European Commission about the urgent execution of the rule.
According to industry experts, espousal of the Basel Committee recommendation for Banking Supervision would require over triple the core capital for which lenders must have up to 7% of their risk-weighted assets.
The Group of 20 nations advocated that the banks must strengthen their reserves capital to avoid any reoccurrence of bailout incidents after the 2008 collapse of Lehman Brothers Holdings.