Basel II published, industry takes stock and regulators refocus energies
The final Basel II document was published to great fanfare on Saturday in Basel, Switzerland. The final document - even longer than the previous third consultative paper released in April 2003 - will take some time for the industry and the world's regulators to digest.
US regulators officially welcomed its publication, and outlined the implementation plans in that country. This includes an implementation deadline of January 2008 for the 11 or so financial institutions that will be officially required to adopt Basel II’s advanced approaches, with a year of parallel running prior to this. The regulators
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