Australia and Singapore lead Basel II adoption

Although Asian countries are not required to adopt the Basel II framework, leading countries in the region are driven by the competition to become a regional financial hub, as well as to embrace best practice in risk management in emerging markets, according to a study into the progress in Basel II adoption.

Cubillas Ding, Celent's senior analyst in the Securities and Investments Group, who authored the study, says many European banks are lagging because they have had to revisit their Basel II

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