Banks down under get go-ahead to use advanced measurement approaches


The Commonwealth Bank of Australia (CBA), the Australia and New Zealand Banking Group (ANZ) and Westpac Banking Corporation have permission to adopt the internal ratings-based (IRB) approach to credit risk and the advanced measurement approach (AMA) to operational risk, effective from January 1, 2008. The Bank of Western Australia and National Australia Bank were granted AMA approval only. Macquarie - Australia's largest investment bank - was also granted Basel II accreditation at the foundation

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