There is a commitment to establish new rules no later than the G20 summit this autumn, for gradual implementation by the end of 2012.
However, while in Europe it is already known that the new rules, once agreed, will be included in a Community Directive with immediate application in all Member States, it is unclear what the degree of implementation in other countries, particularly the US, will be. In the light of what happened with Basel II, the risk of only partial application is a concern.