US financial institutions face major challenges under Basel II, says Financial Insights
Financial institutions in the US face tremendous challenges under the new Basel Accord, also known as Basel II, according to Financial Insights, a financial services research firm based in Framingham, Massachusetts.
Financial Insights says the institutions are faced with integration difficulties, new competitive pressures, consistent methodologies for different risks and the continuing presence of silos.
In a recent study on Basel II: Its Impact on the United States , Financial Insights said the lack of integration is because the risk management systems in place today were established within the individual silos of particular business units, and that most of these systems are not integrated and may have
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