As members of the Basel II Compliance Professionals Association, it is gratifying to learn that the government of China has moved its compliance schedule ahead a full year.
The current financial crisis is forcing direct attention onto regulatory and transparency frameworks. The China Banking Regulatory Commission has already issued regulations under Basel II that include IBR (Internal Rating Based Approaches), technical standards and regulatory requirements to encourage competitive, defensible banking.
The underpinning? Records management. Of course.
