Korea and Singapore set the pace

Basel II

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It is no secret that banks globally are facing delays in their adoption of Basel II guidelines, with most still continuing to focus on pillar 1 requirements despite the imminent implementation dates for the accord. In Singapore and Korea - two of the few jurisdictions in the region that are close to being pillar 1-compliant - the million-dollar question now is whether banks are ready for pillar 2.

And while pillar 1 has led to a fundamental shift in the way banks look at risk, pillar 2 is

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