IIF calls for Basel and IASB co-operation; warns on Basel II deadline
The Institute of International Finance (IIF), an association of leading banks, has called for more co-operation and discussion on bank capital accounting issues between the Basel Committee on Banking Supervision and the International Accounting Standards Board (IASB).
In particular, the IASB is proposing that banks should implement a system of dynamically provisioning against credit risk, while the Basel Committee's proposed Accord on regulatory capital – Basel II – suggests banks should model
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