Deputy general manager of BIS says Basel II is key to financial globalisation and market discipline

Despite the initial expense and effort, Basel II standards lower the cost of obtaining and analysing information and strengthen the stability of the financial system. The three-pillar framework encourages prudential supervision across countries. At the same time, the system is flexible enough to allow countries to tailor the framework to suit the specificities of their financial system.

Hannoun stated that “Basel II provides for a better alignment of regulatory capital requirements with the

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