Setting a timetable
Regulators in Australia and Japan are the latest to set deadlines for their banks to comply with Basel II, and both differ slightly from the Basel Committee’s schedule. Nick Sawyer reports
Regulators in Australia and Japan have set deadlines for the rollout of Basel II in their respective markets, six months after the Switzerland-based Basel Committee on Banking Supervision published the final version of the new framework.
In Australia, banks have until year-end 2007 to meet the Basel II requirements, while those Japanese financial institutions aiming for the standardised and foundation internal ratings-based (IRB) approaches will have to comply with the new rules from the 2008
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