Icelandic bank prepares for Basel II

Glitnir, a Reykjavik-based bank, has signed up to use the Misys Almonde platform for assessing its credit risk exposure. The bank is installing the technology in anticipation of Iceland’s entry into the Basel II accord.

At present the Central Bank of Iceland is investigating the timescales for joining the accord, but Glitnir is choosing not to wait. The bank sees an economic and operational justification for installing the Misys technology before Basel II compliance becomes mandatory.


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