Michel Barnier, European Commissioner in charge of financial regulation, said on Monday that he would stick strictly to a timetable already agreed for implementing stricter Basel III bank capital requirements.

Barnier, who was visiting London to see British Finance Minister George Osborne and representatives from its financial centre, made his remarks after a newspaper report suggested France and Germany were pushing for a delay.

He also said that he would publish a draft law outlining a new regime to manage cross-border banks in crisis within the next few weeks and added that no country would be forced to accept a financial transaction tax.