During the accession period, the legal framework and 2  institutional landscape of the EU continues to evolve, so, this may trigger additional challenges in the process of economic convergence. BH is far from formally reporting to the European Commission via the defined framework for countries’ identification of and reporting on macroeconomic imbalances within the so-called European Semester.
Undoubtedly, it would require commitment of substantial capital and human resources on the part of both banks and the supervisors. RBI has decided to follow a consultative process while implementing Basel II norms and move in a gradual, sequential and co-coordinated manner. For this purpose, dialogue has already been initiated with the stakeholders.