The call to protect dwindling reservoirs
Euromoney penetrates the Kiev ministries
Friday, July 27, 2012
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by Nathan Collins, Euromoney Skew
Most obviously, Croatia is going to need to get its act
together. As it stands the country hasn’t
published draft regulations on any part of Basel III, but
it’s going to need to speed up the process. The
country has to implement the rules as part of the regulatory
package that will come along with accession to the EU, expected
to happen on July 1st 2013.
Moreover, many regulators continue to hire mostly
accountants and economists into their examiners pool;
whilst the skills that these individuals bring are
important, sorely lacking are skills in valuation, risk
management, and modeling. Importantly the
education in many of these countries is still the type
where students focus mostly on one subject for 4-6
years, but they are never taught to have a more open
minded approach to analysis and to be able to detect
the interconnectedness of risks across different
divisions of a bank, not to mention within an
entire financial system.
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