Genworth Financial may defer its planned sale of a 40 per cent stake of its Australian business to 2014 as banks adapt to Basel III rules on capital and work out their demand for mortgage insurance.Tom McInerney, chief executive of Genworth told a US investor conference on Wednesday night that "I think there will be a regulatory uncertainty into 2014," around mortgage insurance in Australia."And so maybe what that means, when it's said and done, what we've always said is, we would look to do an IPO late 2013 or in 2014."My guess is, because of the regulatory [issues, how much credit the bank is going get, what will banks decide to do, what would their internal capital models look like, what credit will they get, I would say [it is] more likely that maybe we push it into 2014 versus now.""There is no reason for us to do a deal, just to do a deal. We don't need the capital. It's not part of our capital point. "We still, it's still a priority, we would still do it and I think we would get to a, maybe when a little of this uncertainty is cleared up, we can get to a good evaluation."