The New Basel Capital Accord (Basel II)
Efforts were made for 6 years to rectify the deficiencies found in the original accord, now known as Basel I.
On 26 June 2004, the committee came out with new Basel norms that are expected to change the complexion of banking throughout the world.
The final version of the revised accord, titled, “The International Convergence of Capital Measurement and Capital Standards:
A Revised Framework” is known in short as the New Basel Capital Accord or simply Basel II. The first version of Basel II came out in 1999.
The version was widely debated and after consultation, a revised Basel II document came out in June 2004.
Efforts were made for 6 years to rectify the deficiencies found in the original accord, now known as Basel I.
On 26 June 2004, the committee came out with new Basel norms that are expected to change the complexion of banking throughout the world.
The final version of the revised accord, titled, “The International Convergence of Capital Measurement and Capital Standards:
A Revised Framework” is known in short as the New Basel Capital Accord or simply Basel II. The first version of Basel II came out in 1999.
The version was widely debated and after consultation, a revised Basel II document came out in June 2004.