Resources for Basel II Capital Accord (Basel II)

Major banks receive Basel II accreditation

www.egoli.com.au

ommonwealth Bank of Australia Limited (CBA), Westpac Banking Corporation (WBC), and Macquarie Group Limited (MQG) have received advanced Basel II accreditation from the banking regulator, the Australian Prudential Regulation Authority. The banks said the accreditation will help them to increase the sophistication of risk management systems, and boost flexibility in decision-making and capital management.
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Westpac chief executive officer David Morgan sung the praises of his company's performance in light of the result.Accreditation is a major endorsement of the quality of Westpac's risk management processes. It will also mean the regulatory capital applied to our activities will better reflect risk and economic value, he said.

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