4/6  BIS central bankers' speeches  20. Since early 1990s, beginning with New Zealand in 1990, many advanced and emerging market economies (EMEs) have switched to inflation targeting as the preferred policy framework.
These organizations may appropriately choose not to adopt Basel II, especially at the earliest possible date. If they choose to opt in, they may want to implement Basel II later, when they can take advantage of vendor models and databases to assist in the development of their systems at much lower costs.