Regulatory Alerts2011-11-20
Revision to Basel II Market Risk Framework Updated as of 31 December 2010
The Saudi Arabian Monetary Agency directs all domestic banks to adopt the February 2011 Basel Committee on Banking Supervision update to the Basel II Market Risk Framework. Banks must ensure risk management, financial controls, and internal audit personnel are informed while the Agency finalizes corresponding guidance documents. Upon publication of these updated guidelines, all Saudi banks will be required to implement the revised market risk standards.
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