While, I have focused to a large extent on the challenges that we, as a system, face in the implementation of Basel II, I would like to balance this with the thought that Basel II does not pose just challenges, it also offers considerable opportunities to banks to upgrade their risk management systems and thus become more efficient and competitive. Thank you.
I am delighted to open this Seminar on “International Financial Reporting Standards: Implementation Issues” and wish you all fruitful deliberations. Thank you. 3/3  BIS central bankers' speeches