Basel II: Australian banks get good marks

A KPMG survey of 294 financial institutions in 38 countries found that Australian banks were progressing their Basel initiatives faster than banks globally.

Over 55 per cent of Australian credit risk projects are currently at the design and build or implementation stages, compared to 38 per cent globally. Similarly, 44 per cent of operational risk projects for Australian banks are at the same stage compared to 29 per cent overall.

All banks must comply with the new Basel Accord by 2007.

The survey results for Australian banks also suggest they are using more sophisticated risk management approaches, in both credit and operational risk, than other respondents from around the globe.

Source: Survive Australia

•Date: 10th March 2004 •Region: Australia •Type: Article •Topic: Operational risk
Rate this article or make a comment - click here