UK lags Europe for Basel II implementation

"Most UK banks certainly appear to be towards the back of the queue," claimed KPMG, in a survey of 154 institutions in thirteen countries across the world.

KPMG said 100% of respondents in some European countries had started both their credit and operational risk projects in preparation for Basel II. But for the UK this figure was only 63% for credit risk, and 50% for operational risk.

KPMG ranked the UK sixth out of seven countries in Europe for credit risk, and fifth out of seven for

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