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Basel ii Offshore
The Basel Committee on Banking Supervision
consists of senior representatives of bank supervisory authorities
and central banks from Belgium, Canada, France, Germany, Italy,
Japan, Luxembourg, the Netherlands, Spain, Sweden, Switzerland,
the United Kingdom, and the United States.
The Committee expects its members to move forward with the
appropriate adoption procedures in their respective countries. In
a number of instances, these procedures will include additional
impact assessments of the Committee’s Framework as well as further
opportunities for comments by interested parties to be provided to
national authorities.
The Basel ii framework is being
circulated to supervisory authorities worldwide
with a view to encouraging them to
consider adopting
this revised Framework at such time
as they believe is consistent with their broader supervisory
priorities.
Cayman Islands
The Cayman Islands Monetary Authority (CIMA) announced that it
will undertake a staged implementation of the Basel II Framework
for banks licensed in the Cayman Islands.
This decision was made following a detailed impact study conducted
with PricewaterhouseCoopers that included consultation with
various stakeholders of the Cayman banking industry. The
implementation will be staged over a number of years in
collaboration with the industry.
The Basel II Framework was developed by the Basel Committee on
Banking Supervision and is a new global supervisory framework for
assessing the capital adequacy of international banks.
Most G-10 countries and many other banking supervisors, including
those of major international financial services centres, plan to
implement the framework over the next few years.
CIMA's Acting Managing Director, Mr. Patrick Bodden, said the
Authority assessed the Basel II Framework on its merits and
considers its implementation as beneficial for the jurisdiction:
"The implementation of the framework is a vital part of the Cayman
Islands' continued commitment both to modern risk based
supervision and to meeting internationally accepted and applied
supervisory standards. Having the framework in place will enhance
our standing and competitiveness as a financial services centre."
The Board of the Cayman Islands Monetary Authority (CIMA) has
approved the implementation of the new Basel II framework in the
Cayman Islands
between 2010 and 2012.
This will occur following the preparation process that will
include policy development, new reporting requirements, and a
measured pace of consultations with the Cayman Islands banking
industry.
The initial focus will be on requiring Cayman incorporated banks
to
implement the standardized approaches under Pillar 1 by the end of
2010, with a staged implementation of Pillars 2 and 3 between 2010
and 2012.
Further consideration will be given to the more advanced
approaches thereafter.
The standardized approaches under Basel II will facilitate the
Cayman banking industry's risk profile and business mix, while
enhancing its risk measurement and management practices. Cayman's
banking industry currently comprises 280 banks from over 40
countries, of which approximately 100 will be directly impacted by
the implementation of the Basel II framework.
Bermuda
Bermuda banks and deposit companies are required to meet, on an
ongoing basis, the minimum licensing criteria set out in the
Second Schedule to the Banks and Deposit Companies Act 1999 (‘the
Act’).
This provides, among other requirements, that institutions must
conduct their business in a prudent manner, including that they
maintain capital commensurate with the nature and scope of their
operations.
The setting and monitoring of requirements for capital adequacy
and the effective assessment of risk within institutions represent
key elements in the framework of prudential oversight and control
applied by the
Bermuda Monetary Authority
(‘the Authority’) to help protect the interests of depositors and
potential depositors.
The approach developed and applied by the Authority in that regard
under the Act has reflected the regulatory standards designed and
promulgated by the
Basel Committee on Banking Supervision,
the international standard-setting body.
As a result, institutions licensed in Bermuda have been required
to maintain at all times levels of capital
in
excess of the minimum international standards.
Institutions
are expected to operate at all times in such a way as to ensure
that their capital
exceeds
the minimum level resulting from the Pillar 1 calculation and
remains at all times consistent with the overall capital
requirement set by the Authority in consequence of the supervisory
review process under Pillar 2 of the framework.
The new approach is also intended, through the application of more
effective risk sensitive requirements, to provide greater
incentives for the adoption by banks of continuing enhancements in
their risk management practices.
The revised framework includes a range of options of increasing
sophistication for determining the capital
requirements for credit risk and operational risk.
At the same time, the new approach retains significant aspects of
the present international capital adequacy framework, including
the general ‘floor’ requirement that no bank should operate with
capital equivalent to less than 8% of its risk-weighted assets.
The framework for calculating capital requirements for market risk
also remains unchanged from that introduced by the Basel Committee
in 1996 and incorporated into the Authority’s regime. The
definition of
eligible capital is similarly unchanged for the time being,
although firms should be aware
that the Basel Committee is committed to reviewing the current
rules defining the componets of regulatory capital. Once the
results of that work are available, the Authority will consider
how and when to make any changes that prove necessary.
The
Bermuda Monetary Authority (BMA) has published the 'Revised
Framework for Regulatory Capital Assessment', which sets out in a
single policy document the final rules for implementation in
Bermuda of Pillars 1 and 2 of the new Basel II international
capital accord.
The Authority is also publishing the new reporting form and
guidance notes that institutions must use
from 1st January 2009
to calculate and report their capital requirements to the
Authority.
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Become a
Certified Basel ii Professional (CBiiPro)
Basel ii Distance Learning and
Certification
The Cost:
US$ 297
What is included in this
price:
A.
The official presentations we use in our
instructor-led classes (1880 slides)
The
presentations have been updated after the Basel ii Amendment (July
2009, Enhancements to the Basel II framework, Supplemental
Guidance)
B. Up to 3 Online Exams
There is only
one exam you need to pass, in order to become a
Certified Basel ii
Professional (CBiiPro).
If you fail, you must study again
the official presentations, but you do not
need to spend money to try again. Up to 3 exams are included in
the price.
To
learn more you may visit:
www.basel-ii-association.com/Questions_About_The_Certification_And_The_Exams_1.pdf
www.basel-ii-association.com/Certification_Steps_CBiiPro.pdf
C. Personalized Membership Certificate printed in full colour.
Processing, printing, packing and posting to your office or home
To learn more:
www.basel-ii-association.com/Distance_Learning_Online_Certification.htm
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