Resources for Basel II Capital Accord (Basel II)

Basel II committee: We'll stop the next crunch

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In particular, valuation of complex financial products would be improved by the new guidelines from the Basel Committee on Banking Supervision, it commented. The changes are to be made in response to the ongoing global financial crisis - which came about in part due to concerns over the value of certain types of the asset-backed securities held by banks.

These securities have "produced the majority of losses during the recent market turbulence," the committee said in a statement. "Supervisors cannot predict the next crisis but they can carry forward the lessons from recent events to promote a more resilient banking system that can weather shocks, whatever the source," committee chairman Nout Wellink added.

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