In 1999 the Basel Committee working with the major banks of member countries to develop a new Capital Accord. The aim is to cover all risks into a banking capital adequacy framework is comprehensive.
Development of Basel II coincides with the movement in the countries the EU to balance the financial and banking market → known as the Financial Market Programs.
Basel II, with a few changes will be the basis for the countries to the EU capital adequacy calculations - the Capital Requirements Directive (CRD).
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