BASEL II: Impact on IT Systems & Testing for Compliance

In excess of 500 pages long, BASEL II is a very comprehensive and complex document in comparison to the 40 or so pages of its 1988 predecessor. The consequence is that further amendments will surely be needed upon completion of the review period adding to its complexity and ultimate implementation throughout the industry. The next few years will be strenuous for finance organizations who, as well as implementing changes for the BASEL II Accord, will also potentially be faced with large-scale programs such as the Euro, Straight Through Processing / T+1 and other regulatory changes.