See "Basel II: A New Capital Framework", Reserve Bank of New Zealand Bulletin, September 2005, Vol 68 No 3, for an introduction to Basel II and the Reserve Bank's approach to implementing it. 2  BIS Review 30/2006  countries in 1988.
In producing this report, the ECB fulfilled the requirements of Article 122 (2) in conjunction with Article 121 (1) of the Treaty to report to the Council of the European Union on the progress of Member States with a derogation, with regard to their obligations concerning the achievement of Economic and Monetary Union (EMU).