Basel II deadlines pushed back
Washington, London and Basel – Deadlines for implementing Basel II in Europe and the US may need to be postponed because of growing delays in national and regional rule-making processes, say a number of risk management experts, regulators and others.
And as a result of this perception of regulatory uncertainty, firms are holding back on Basel II investment commitments. Indeed, a poll by Operational Risk last month showed nearly 42% of respondents said their firm had postponed op risk investments because of uncertainty in their country's domestic rule-making process.
In Europe, Hector Sants – managing director of the wholesale and institutional markets group at the Financial Services Authority in the UK – confessed at a mid-March conference
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