Resources for Basel II Capital Accord (Basel II)

Basel II deadline extension to give banks more leeway

www.theedgedaily.com

Bank Negara’s recent extension of the deadline for banks operating in Malaysia to meet the Basel II capital adequacy ratio requirement to 2013 from 2010 has given banks more leeway in adjusting to the complexities of the requirement.

“It is a good decision by Bank Negara to extend the deadline to 2013. From a practical standpoint, this allows more time for the readiness of data availability, which is normally a key challenge for the banking industry.

“It also allows banks more time to gain a deeper understanding in interpreting the Basel Accord to gain competitive advantage beyond regulatory compliance by reducing capital reserves, consequently increasing capital available for investments,” Deloitte Consulting Malaysia executive director Ow Chee Hong told The Edge Financial Daily.

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