Risk management and stability better under Basel II, but industry unprepared
Basel II will improve risk management and stabilise the banking system, but almost half the industry is not sure they will be ready in time.
A survey carried out by the Professional Risk Managers’ International Association (PRMIA), an educational institution, found that while more than 90% of bankers thought Basel would promote better risk management, and almost 80% of respondents believed the banking industry would become more stable, only 56% of bankers said they would definitely be ready in time for implementation. Just 14% of regulators thought all the banks they supervise were prepared for the framework’s introduction. But 55%
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