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A review of the review

Davies, Howard (2005) A review of the review. Financial Markets, Institutions and Instruments, 14 (5). pp. 247-252. ISSN 0963-8008

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Identification Number: 10.1111/j.0963-8008.2005.00106.x


In 1997 a process started to review the 1988 Basel I Accord, which ultimately led to the Basel II Accord of June 2004. In this paper Sir Howard Davies, Director of the London School of Economics and Former Chairman of the Financial Services Authority, provides an analysis of this review process. Several issues related to the complexity and implementability of the Accord are discussed. Although the author thinks that Basel II has many appealing aspects (such as the three‐pillar framework), he argues that the outcome is very complicated, it took a very long time, and needs to be adapted in ways not originally envisaged. He calls for a "Review of the Review" to see what lessons can be learnt from the review process which might be helpful for the future.

Item Type: Article
Official URL:
Additional Information: © 2005 The author
Divisions: LSE
Subjects: H Social Sciences > HG Finance
Date Deposited: 30 Jul 2010 10:27
Last Modified: 20 Sep 2021 23:07

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