Resources for Basel II Capital Accord (Basel II)

Basel II Boosts Banking, says Absa

www.busrep.co.za

With the implementation of Basel II the South African banking system as a whole has taken a giant step forward in risk management and the determination of appropriate capital levels, Absa group executive director Jacques Schindehutte said on Tuesday.

He said Absa had successfully implemented the Basel II Capital Accord (Basel II) on Jan 1.

"The preparation for this event required considerable time and effort from management and the board as well as a substantial investment of just over R300 million.

"The Sarb played a major role in the success of this project, and the South African banking system as a whole has taken a giant step forward in risk management and the determination of appropriate capital levels," Schindehutte added.

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