Basel II Who has to use it

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Firms in Europe have to implement Basel II as well as North America. Basically it is the G7 nations. However other countries are going to implement the Accord in 2007.

Some journalists and other interested parties continue to debate whether and how Basel 2 will promote stability and competition in global banking. Nevertheless, it appeared that something of the order of 100 countries would want to subscribe to the new accord, even if several significant newer markets had to acknowledge that it would be several years before they were ready.

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