How Russia will deal with Basel II
OpRisk & Compliance put key questions about Russia's Basel II programme to Alexey Simanovskiy, director of the Banking Regulation and Supervision department of the Central Bank of the Russian Federation (Bank of Russia). This interview follows on from our article in the February 2007 edition of the magazine
What is the expected timeframe for Basel II implementation in Russia?
Taking into account the state of the financial markets and the development priorities of the Russian banking sector, Basel II is expected to be implemented in Russia in 2008-2009, with Pillar I envisaged for implementation in 2008, and Pillars II and III in 2009.
What approaches for credit and operational risk are the majority of banks most likely to implement by this deadline?
By this deadline, the Simplified Standardised
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