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Revising Basel 2: The Impact Of The Financial Crisis And Implications For Developing Countries

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  • Andrew Cornford

Abstract

This paper is concerned with the following aspects of Basel 2, the new internationally agreed framework for assessing the capital adequacy of banks: (1) its rationale and origins; (2) the process leading to the agreement, including the way in which problems and criticisms which emerged during drafting were handled; (3) data on the introduction of Basel 2 in different countries; (4) the quantitative exercises designed to estimate Basel 2’s effects; (5) the global pattern of introduction in relation to Basel 2’s objectives; (6) the way in which Basel 2 addresses the control of banking risks; and (7) outstanding issues requiring regulatory reform which have been highlighted by the financial crisis and which are either covered by or closely related to the rules of Basel 2. The paper devotes much attention to the challenges to regulation and banks’ role in economic development which are posed by its widespread introduction in emerging-market and other developing countries.

Suggested Citation

  • Andrew Cornford, 2010. "Revising Basel 2: The Impact Of The Financial Crisis And Implications For Developing Countries," G-24 Discussion Papers 59, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:g24pap:59
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    File URL: https://unctad.org/system/files/official-document/gdsmdpg2420102_en.pdf
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    References listed on IDEAS

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    1. Bank for International Settlements, 2009. "The role of valuation and leverage in procyclicality," CGFS Papers, Bank for International Settlements, number 34.
    2. Andrew Cornford, 2005. "Basel Ii: The Revised Framework Of June 2004," UNCTAD Discussion Papers 178, United Nations Conference on Trade and Development.
    3. Stephen G Cecchetti & Jacob Gyntelberg & Marc Hollanders, 2009. "Central counterparties for over-the-counter derivatives," BIS Quarterly Review, Bank for International Settlements, September.
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    Cited by:

    1. Étienne Farvaque & Catherine Refait-Alexandre, 2016. "Les exigences de transparence des accords de Bâle : aubaine ou fardeau pour les pays en développement ?," Mondes en développement, De Boeck Université, vol. 0(1), pages 131-147.
    2. Natalia Konovalova & Snezhana Dalecka, 2016. "Analysis and evaluation of capital adequacy in Latvian banking system," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 5(1), pages 107-123.

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