China's largest banks prepare for Basel II
Increased competition and the desire to expand overseas is forcing Chinese banks to start preparing for the implementation of the new Basel Accord, also known as Basel II, according to supervisory officials in that country.
Tang Shuangning, the vice-chairman of the China Banking Regulatory Commission, said last month that the commission is "actively encouraging" the nation's major lenders to intensify their efforts to build an internal ratings-based (IRB) approach in accordance with Basel II requirements and improve their risk management capabilities.
According to Li Yunqing, an official from the Industrial and Commercial Bank of China (ICBC), the nation's four biggest banks - the ICBC, the Bank of China
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