Part 1: Sustained momentum in plans for introducing Basel II

Geneva, 16 Feb - Plans for the introduction of Basel 2 appear to have acquired widespread momentum, as indicated by the Basel-based Financial Stability Institute (FSI), based on a new survey of the state of play in major regions and by other specifically national information.

Andrew Cornford, Research Fellow at the Financial Markets Center, USA. This article was first published in The South-North Development Monitor

The definitive text of Basel 2 (short for the official title -International Convergence of Capital Measurement and Capital Standards, A Revised Framework Comprehensive Version), was published in June 2006 by the Basel Committee on Banking Supervision (BCBS), a body of banking regulators from major industrialised countries. The final text was the culmination of a drafting process lasting the better part of a decade, and is designed to replace the 1988 Basel Capital Accord (Basel 1).