The aftermath of the global financial crisis called for a fundamental reconstruction of the approach towards risk and regulation in the financial sector. The Basel Committee on Banking Supervision (BCBS) has reached an agreement on reforms which aims at developing a more resilient banking sector. To assess the impact of these reforms, BCBS has conducted an impact analysis (Quantitative Impact Study), collecting information from 263 banks around the world.
Having worked on Basel II implementation with several banks around the world, we have a well- defined framework in place for the gradual implementation of the revised regulations.
Our framework consists of the following three phases: