Basel II SME solution close

The politically sensitive issue has dogged the development of the risk-based Accord and helped delay its coming-into-force until at least late 2006, or nearly three years later than originally planned (Risk December 2001).

The German government, which faces parliamentary elections in September, threatened to veto the Accord if it penalised bank lending to the country’s SMEs, or mittelstand, which are regarded as a vital part of the German economy. Other countries, including Japan, Italy and S

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