Bankers across Europe are concerned about the implications of the proposed rules to be ushered in by the Basel Committee on Banking Supervision (BCBS).

A survey by PricewaterhouseCoopers found senior management at European banks were worried about the lack of guidance about the supervisory review due in 2006.

The bankers believe the committee's lack of clarity has "hindered meaningful analysis of the implications and impeded their efforts to prepare", according to the survey. All those surveyed supported the principle behind the new rules - Basel II - which will alter the amount of capital banks will be required to maintain according to the risk profile of their loan books.

Earlier this week, a top US bank regulator, Mr John Hawke, said the timetable for implementation of the rules was not realistic and called for a delay. He believed the committee overseeing the rules was moving too fast to take account of concerns of US banks. He said US banks would experience wild fluctuations in the amount of capital they must hold and that it could dramatically alter the competitive landscape.

The chief concern among European banks is that some states may take a more conservative interpretation of the new rules which could create an "unlevel" playing field across Europe.

PwC's head of regulatory advisory services, Mr Alan Merriman, said it was imperative that Irish banks work with the Irish Financial Service Regulatory Authority to resolve outstanding issues. - (Additional reporting by the Financial Times Service)