FRANKFURT (Reuters) - The German banking association (BdB) on Monday called for an extension to the timetable to decide on new international banking regulation.

The Basel Committee of bank supervisors from nearly 30 countries intends to deliver the new Basel IV rules by the end of this year.

The rules aim to avoid any repeat of the financial crisis of 2007-09, when taxpayers had to bail out under-capitalized lenders.

But BdB Chairman Hans-Walter Peters urged the committee to look at extending the timetable if necessary.

"When in doubt, it is better to extend the Basel supervisors' timetable than to rush a bad solution," Peters said at a BdB's news conference.

The Basel plan has drawn criticism in Europe, with the European Union's financial services commissioner several weeks ago saying the reform risks hurting European banks and needs to be changed.

Peters added to the call for change, arguing current plans to adjust the way in which banks calculate risk through internal models could require them to hold much more capital.

"According to studies by the IIF (Institute of International Finance) the originally discussed model adjustments could increase the capital requirements of European banks by up to 90 percent," Peters said.

"The numbers talked about at the moment are still between 30 and 50 percent. This distortion of competition would not be acceptable."

Peters added that real estate financing in Germany and corporate loans in France would be the business areas most adversely affected by restrictions on internal risk models.

(Reporting by Joshua Franklin and Alexander Huebner; editing by Louise Heavens and Jason Neely)