Thursday, June 11, 2009

The Basel Committee broadens its membership

On June 10, 2009, the Basel Commitee released the news that it decided to invite some key emerging economies to become members. Considering the extended delay of implementation of Basel II in many emerging economies esp. Indonesia, this news can be a boost to productivity for the central bank to release more implementation guidelines up to the standards of other (peer) regulators, in terms of quantity and quality of issued regulatory papers.