Software Product of the Year - SAS Risk Intelligence

The Risk Awards 2007

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When leading Austrian bank Erste Bank set out its strategy for Basel II compliance in 2003, one of its main aims was that it should be ready to implement the advanced internal ratings-based (IRB) approach for its retail banking operations and foundation IRB for its investment banking business from January 1, 2007. Although it was still waiting for official approval as of December, the country's regulators have given the bank the green light to adopt the IRB approaches, based on the success o