Newsletter Sep 2005: SA banks stack up well against Asia-Pac on Basel II

JOHANNESBURG – South African banks are on a par with their Asia-Pacific counterparts in the implementation of the new Basel II capital rules, according to Ernst & Young, the global audit and business advisory firm. This conclusion follows a survey of 13 South African banks undertaken by E&Y during the second quarter of 2005 to assess their progress in implementing the new rules, which are expected to be adopted in around 100 countries worldwide from 2007.