Resources for Basel II Capital Accord (Basel II)

Australian banks gain Basel II accreditation

money.cnn.com

The Australian Prudential Regulation Authority (APRA) said Monday it has granted Basel II accreditation to a number of banks, including Commonwealth Bank of Australia Ltd (CBA), Australia & New Zealand Banking Group Ltd and Westpac Banking Corp Ltd.

Basel II is a new set of global standards for capital adequacy which seek to improve on the present rules by aligning regulatory capital requirements more closely to the underlying risks that banks face.Accreditation will take effect from Jan 1.

APRA said it has granted CBA, ANZ and Westpac advance accreditation, allowing them to adopt the internal-ratings-based approach to credit risk and the advanced measurement approach to operational risk.

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