NEWS: Basel Committee announces progress in reforms programme.

from BUSINESS LINE, October 20, 2010 New Delhi, Oct. 19 - Ahead of the meeting of G-20 Finance Ministers and Central Bank governors at Gyeongju, South Korea, later this week, the Basel Committee on Banking Supervision met in Seoul on Tuesday to finalise its reforms programme for ensuring systemic stability of the global financial architecture.

In a statement, the Chairman of the Basel Committee and President of the Netherlands Bank, Mr Nout Wellink, said that "the Basel Committee reforms address the identified weaknesses of the pre- crisis banking sector, thus delivering on the G-20 mandate given at the Pittsburgh summit to develop a more resilient banking sector." The new …