HK banks lag in Basel II preparations

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Hong Kong’s banks are lagging their European counterparts in preparing for Basel II with most still at the early stages of project planning, according to a report by consultants KPMG.

Only half of Hong Kong’s banks have started Basel-related projects for both credit and operational risk, compared with 71% of European institutions and 69% of institutions worldwide, the survey said. Moreover, a quarter of Hong Kong respondents are still in the process of establishing teams to address the new

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