BIS finds Singapore compliant with Basel III
Singapore is compliant with the Basel III framework overall despite deviations in some areas, a review conducted by the Bank for International Settlements (BIS) has found.
Singapore becomes the fourth jurisdiction to undergo the ‘level 2' assessment of how closely its regulations comply with Basel III. Deemed ‘compliant' in 12 areas and ‘largely compliant' in two, Singapore scored higher than each of the three other jurisdictions assessed to date. The European Union was deemed ‘materially non
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