Denmark's government said its proposals from May to easeBasel III liquidity rules will probably prevail when theEuropean Commission reveals its final decision on the matter thismonth.

In an interview yesterday in Copenhagen, Economy MinisterMargrethe Vestager said she sees “no reason to believe there areany changes to the proposal” published by her ministry lastmonth.

Denmark, which has spent the past three and a half yearsbattling rules by the Basel Committee on Banking Supervision thatthe nation says penalize its home finance system, is telling itsbanks they won't need to follow the global regulator's standardsfor covered bonds. Vestager said in May her ministry had receivedassurances from Brussels that Denmark's needs would be taken intoaccount when Europe adapts Basel III to its own markets.

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