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The Basel framework is based on three pillars - The First Pillar The determination of eligible capital and minimum capital requirements in relation to the credit risk, operational risk and market risk taken by the bank - The Second Pillar The supervisory review process, designed to ensure that other risks are taken into account in supervisory interaction with banks; and - The Third Pillar Market discipline, achieved through disclosure of information to its peers in respect of the risks taken by a bank.
The FSA has set its implementation date as 31st December 2006 but regulated fi rms are currently required to have started work on their implementation of advanced measurement (operational) or internal ratings (credit) approaches. For EC institutions, the focus has shifted to the current Risk Based Capital Directive, which mirrors the Accord. For Europe, it is the EU that will have legal effect and that will apply Basel to all banks and credit institutions. Commentators anticipate that the implementation of Basel in the UK is likely to be fraught with diffi culty. A Practitioner’s Guide to the Basel Accord will give compliance professionals and their advisors an easy-to-navigate reference tool that provides clear, unambiguous interpretation of the accord
A Practitioner’s Guide to the Basel Accord will enable you to examine each of the three pillars of the Accord with straightforward interpretation and commentary on each. It will also cover the wider application of Basel and an analysis of the quality of risk management in banks.