Bracing for Basel
When international banking supervisors met in Basel, Switzerland in 1999 to propose a new framework for capital adequacy, they set in motion the biggest shake-up of the decade as to how banks measure risk and allocate capital. The new proposals, called Basel II, aim to make banks adopt a more comprehensive, sophisticated and risk-sensitive approach for calculating regulatory capital.
The carrot offered to banks by Basel II is that if they develop sophisticated internal risk-measurement processes and models and can demonstrate their
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