Hong Kong banks set to struggle with Basel II

Many of Hong Kong’s banks could struggle to implement the Basel II capital adequacy accord because of their lack of sophisticated risk management systems, professional services firm Deloitte Touche Tohmatsu said in October.

Deloitte’s annual report on Hong Kong financial institutions showed Hong Kong banks’ risk management systems are often insufficient for the demands that will be made by the risk-sensitive Basel II accord. The accord is proposed by the Basel Committee on Banking Supervision, the body that in effect regulates international banks.

Basel II will determine from 2005 what proportion of their assets large international banks must set aside as a reserve to guard against banking risks, including

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