Because it has taken a risk-based approach to supervision for over 10 years, the South African Reserve Bank (SARB) has been an enthusiastic proponent of Basel II from the start. It has worked with the committee of non-G10 countries that has contributed an emerging markets perspective to the development of new capital Accord, and participated in the Core Principles Liaison Group of the Bank for International Settlements’ Basel Committee on Banking Supervision. It was also involved in the rece
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