Basel timetable for Chile
Santiago – The Chilean Superintendent of Banks and Financial Institutions (SBIF) has released a Basel II consultative document that also details the country's implementation plan for the new Basel Accord, according to Gunther Held, head of research at the bank supervision agency.
The guidelines, released at the end of January 2005, call for comment letters from banks and other financial institutions in Chile. Financial institutions have until the end of April to send their comments to SBIF, after which the it is expected to approve the Accord implementation timetable.
SBIF says banks will implement standardised and basic indicator approaches for credit and operational risk respectively. The banks will also adopt the standardised approach of the 1996 Market Risk Amendment
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