February 12, 2013 - Banks based in the European Union (EU) may be required to comply with a key aspect of the Basel III regulations before their counterparts elsewhere across the globe.

That is according to an official document obtained by Bloomberg News, which has revealed that the European Parliament (EP) has called for financiers in the 27-member state economic bloc to adopt an "accelerated" stance towards the implementation of the liquidity coverage ratio rule.

Under the terms of this part of Basel III, lenders will be required to hold enough easily saleable assets to ensure they could survive a 30-day credit squeeze in the future.

Last month, leaders of global central banks set a deadline of 1 January 2019 for the introduction of Basel III.

However, Ireland, which currently holds the rotating presidency of the EP, is urging financiers to bring this schedule forward by 12 months.

But Simon Willis, analyst at Daniel Stewart Securities, told the news source that the quickening of the timetable would be "negative".