Australia and Singapore leadBasel II in Asia
Australia and Singapore’s banking sectors are leading the Asia-Pacific region when it comes to the implementation of Basel II, according to a recent report by Standard and Poor’s. But, even banks operating in these countries face considerable challenges in meeting deadlines set by their national regulators.
Banks in Australia and Singapore are making good progress towards a variety of approaches to Basel II, because of their own thorough preparations and the reasonable regulatory timetables set by the Australian Prudential Regulatory Authority (Apra) and the Monetary Authority of Singapore (MAS), says Ryan Tsang, a financial services ratings credit analyst at Standard and Poor’s in Hong Kong.
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