G20 commitments

G20 COMMITMENTS PROGRESS TABLE (BRAZIL, CHINA, INDIA, JAPAN, RUSSIA): – SEPTEMBER 2010

G20 COMMITMENTS CAPITAL AND LIQUIDITY:
Basel II Capital Framework, Capital requirements for trading book, Basel III agreement Brazil China Implementation of Basel II started in 2005. Full implementation should take place no later than 2012. Basel II will be adopted in 2011 for large commercial banks. . 7 banks are subject to Basel II in China already now. Trading book requirement have been aligned to BCBS recommendations. Securitization is a marginal business in China Basel III : awaiting G20 results India Basel II adopted - The standardised approaches of the Basel 2 framework are implemented in India including operational risk. All commercial banks, including foreign banks in India, migrated to the Basel II framework by March 31, 2009. ICAAP is implemented by all commercial banks, while SREP will be implemented from 2010-11. Migration to advanced approaches is in process and will finish until 2014. Basel III - proposed new requirements have been consulted upon, responses to consultation are being considered, the potential cumulative and macroeconomic impact is being assessed, and possible changes to the package of measures are being discussed. Japan Russia Basel II adopted, introduced proper regulation concerning banks’ trading books based on Basel II. Basel III: awaiting G20 endorsement. Basel II Minimum Capital Requirements (Pillar 1): Bank of Russia issued two regulations (effective July 1, 2010). These implement Basel II simplified standardised approach to credit risk assessment for the purpose of calculating the equity capital adequacy ratio (N1) by credit institutions. Russia is expected to finalise the Basel II implementation by 2013. No instrument is in place for capital requirements for trading book, but Russian supervisors are examining the issue. The Central Bank of Russia and the ECB has a joint project to implement Basel II. The program will last until 31