US and German regulators have intensified their war of words over the timely implementation of the Basel III framework for ensuring global financial stability.The first of the Basel III rules are supposed to take effect on January 1, 2013. But, as reported in Banking Day last week, the US Federal Reserve has announced that US federal banking agencies will not enforce these rules on January 1.And, on Monday, US Federal Deposit Insurance Corporation director Thomas Hoenig told Germany's Handelsblatt newspaper that the Basel III rules should be abandoned because they are too complex. Although Hoenig's stance is well-known, German officials voiced concern at his latest comments and at the US delay.Andreas Dombret, a board member of German central bank the Deutsche Bundesbank, responded in a speech yesterday by saying there was "no alternative to implementing Basel III on a global scale".Said Dombret: "I call on my colleagues in the US not to unexpectedly question the whole framework in the 11th hour - after taking part in its negotiation during the entire process. Nobody would understand why [if] the largest financial market in the world suddenly were to go its own way on capital rules."