Basel Accord major challenge for Asia banks-HKMA

Recent proposals aimed at strengthening the global financial system pose a major challenge for banks and regulators in Asia, the Hong Kong Monetary Authority said on Mar 13, 2001.

"Implementing this system will mean a complete sea-change in the way banks work. It will put enormous stress on regulators in countries like Indonesia as well as Hong Kong," HKMA Deputy Chief Executive David Carse told financial professionals at a conference organised by Euromoney.

"I won't say (Asia) will be able to

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