Banks expenditure on Basel II compliance to hit $2 billion by 2005, says Datamonitor

Datamonitor, a London-based international business information company, estimates that European banks will spend up to $2 billion as they struggle to address onerous Basel II requirements.

In a report, Credit Risk Management and Basel II in European Financial Services: Getting Ahead in the Basel II implementation space, released on January 8, 2004, Datamonitor said expenditure on Basel II would reach $1.93 billion in 2004, and peak at $2 billion by 2005.

The report analyses the strategic implications and opportunities for vendors as financial institutions move into the IT implementation phases of their credit risk/Basel II initiatives. It provides up-to-date analysis so far of

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