UK lags Europe for Basel II implementation
BRUSSELS - The UK financial services sector lags most of Europe in its state of preparedness for the implementation of the proposed new Basel capital accord for internationally active banks, dubbed Basel II, according to research by professional services firm KPMG.
KPMG said 100% of respondents in some European countries had started both their credit and operational risk projects in preparation for Basel II. But for the UK this figure was only 63% for credit risk, and 50% for operational risk.
KPMG
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