Russia opens up
Russia is moving ahead with Basel II implementation, with a new industry working group and new regulatory rules. Ellen Davis reports
RUSSIA has got the Basel II bug. After some false starts, the country's regulator is moving ahead with implementation plans for the international capital framework, and its banking association is setting up a working group to specifically tackle implementation issues. Even the International Finance Corporation – an arm of the World Bank – has become involved by providing risk management training for bank executives.
But progress is measured. In theory, the country is supposed to be implementing
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