QIS3 survey delay puts back Basle II accord to 2006
BASLE, SWITZERLAND -- Regulator determination to get a key survey of banks right was a major factor in the decision to postpone again the coming-into-effect of the complex Basle II banking accord until late 2006 from an undetermined date in 2005, banking regulators said in March.
This is likely to mean in practice that the accord would come into force at the start of the new financial year on January 1, 2007, some bankers said.
The Basle Committee on Banking Supervision, the architect of Basle
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