FRANKFURT, Nov 6 Reuters Europe should go ahead and implement new regulation for banks known as Basel III, which aims to make lenders more resilient to possible economic shocks, Claudia Buch, the European Central Bank39;s top supervisor, said on Wednesday.

The Basel framework needs to remain the cornerstone of internationally agreed rules, Buch said in a speech. Watering down the Basel rules would be selfdefeating it would weaken the guardrails, in particular for globally active banks, and increase regulatory uncertainty.

Donald Trump39;s victory in the U.S. Presidential election overnight raised questions about the global implementation of these rules from next year as he largely campaigned on promises of deregulation.

Reporting by Balazs Koranyi Editing by Mark Potter

Source Reuters