Chinese banks may not meet Basel II until 2012


The China Banking Regulatory Commission (CBRC) said in November that the country's top banks would not be pressed to be Basel II compliant until 2010 to 2012.

The big five state-controlled commercial banks, Industrial and Commercial Bank of China (ICBC), the China Construction Bank (CCB), Bank of China (BOC), Agricultural Bank of China and Bank of Communications (BoComm, in which HSBC has a 19% stake) are the country's tier-one banks.

They will seek to employ the standard Basel II framework first

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