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Basel
II
In
June 1999, the Basel Committee, established by the central bank Governors of the
Group of Ten countries at the end of 1974, issued a proposal for a New Capital
Adequacy Framework to replace the 1988 Basel Capital Accord. The goal of the
Committee is to complete the New Capital Accord (known as Basel II) by mid-year
2004, with implementation to take effect in member countries by year-end 2006.
To that end, work already has begun in a number of countries on draft rules that
would integrate Basel capital standards with national capital regimes. (More about the
Basel Committee…)
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