Despite increased efforts, banks are facing an uphill struggle in preparing for the Basel II Framework, which sets new standards in risk management and capital adequacy, according to results of a survey released by Accenture.
The survey queried senior executives responsible for Basel II compliance at 63 of the largest banks in North America and Europe to gauge the response to the challenges posed by the Framework, which strengthens existing capital rules by making them more risk-focused and by aligning regulatory capital levels more closely with economic capital to better reflect market risks.
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