The essence of Basel II applies within a three pillars' concept:
1. Minimum capital requirements
2. Supervisory risk review requirements
3. Market discipline requirements
Business conduct transperancy, change controls, integrity, clarity, and dynamic risk and record management are few examples of the Accord' essence and key requirements.
It also covers more sophisticated measures of credit risk include EL (Expected Loss) whose components are PD (Probability of Default), LGD (Loss Given Default), and EAD (Exposure At Default).
Basel II covers, among other things, significant overlaps with SOX.
Based on our work for blue chip companies, we developed a proven unique technicque and templates to map multi-compliance overlaps between Basel II, MiFID, Solvency II, SOX, IFRS etc. to common references, thus saving 6-figure sums to our clients.
