Implementation of Basel II in the Philippines
Old risk-based capital adequacy framework of the BSP
The current risk-based capital adequacy framework of the BSP is largely patterned after the standards set under the International Convergence of Capital Measurement and Capital Standards and the Amendments to the Capital Accord to Incorporate Market Risk. These standards were issued by the Basel Committee on Banking Supervision in 1988 and 1996, respectively, and are now commonly referred to as Basel 1. Below sets out the BSP regulations that adopted these standards in the Philippines (the original Basel Committee documents may be accessed at www.bis.org):
Basel 2 Preparation
The Basel Committee on Banking Supervision issued the Revised International Convergence of Capital Measurement and Capital Standards, or Basel 2, on 26 June 2004. The new capital standards are to take effect in 2007. Below sets out the various issuances and activities of the BSP with regard to Basel 2 implementation in the Philippines (The International Convergence of Capital Measurement and Capital Standards: A Revised Framework and other Basel 2 related documents may be accessed at www.bis.org):
- Circulars, Circular-letters, Memoranda
- Press Release
- Speeches
- Opening remarks - Governor Buenaventura's opening remarks during the Basel 2 Presentation to the Officers of the Supervision and Examination Sector of the BSP (21 January 2005)
- Closing remarks - Deputy Governor Reyes' closing remarks during the Basel 2 Presentation to the Officers of the Supervision and Examination Sector of the BSP (21 January 2005)
- Strong Corporate Governance-Banks Passport to Basel 2 - Speech of Governor Buenaventura at the 2004 General Membership Meeting of the Bankers Institute of the Philippines (21 July 2004)
- Exposure drafts
- Exposure draft covering credit risk, market risk, operational risk and disclosure requirements
- Presentations
Basel II Implementing Guidelines and Other Issuances

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