Accord preparations: the rest is yet to come

The Bank for International Settlements’ proposed Basel II Accord will fundamentally change the regulatory framework for credit and operational risk. It will have an impact on the business conduct of banks around the world, on the types of activity they will find viable and on the market segments they will cover. Ultimately, it will affect the overall stability and robustness of the financial system.There has been intense and, at times, fierce debate about the implementation details of the pr