Basel II implementation will ‘cost banks billions'

Monday 24 November 2003 at 16:00

The cost of complying with the new bank capital rules proposed by the Basel II accord will run to several billion dollars, according to a new report.

Mercer Oliver Wyman, the management consultancy, said the 25 biggest banks in the world would each have to pay between $100m (€85m) and $200m to comply with the rules – meaning they will probably face a combined bill of $3bn to $4bn.