IIF Releases Report on Basel II Outstanding Issues

Leading global banks welcome progress, but stress challenges of staggered implementation and concerns on capital calculations

The Institute of International Finance, the global association of financial institutions, today welcomed the progress made by the Basel Committee on Banking Supervision toward finalizing the new Basel Accord and it called on the Committee to resolve outstanding issues in order to lay the groundwork for effective implementation.

"The Basel Committee has continued to move forward to finalize the new Accord. We welcome this progress and the Institute and its members remain committed to the new approach embodied in Basel II. However, it is clear that important issues remain to be resolved and that securing coordinated implementation poses a growing challenge to us all" said Mr. Daniel Bouton, Chairman and Chief Executive Officer of Société Générale and Chairman of the Steering Committee on Regulatory Capital of the Institute of International Finance (IIF). The IIF, which has over 340 member institutions headquartered in more than 60 countries operating across the world, today released a report that it has sent to the Basel Committee.

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