The Philadelphia Council for Business Economics, a Chapter of the National Association of Business Economists, jointly with The Global Interdependence Center, will host a presentation by Christopher Whalen, Managing Director of Institutional Risk Analytics, on Wednesday, October 5, 2005, at The Federal Reserve Bank of Philadelphia.
The Presentation is entitled: "Bank Capital Accords and Global Economic Integration"
Basel II, the ambitious global bank capital accord is driving huge changes in how businesses report information to bankers and regulators. Global banks are going to need to "rate" all of their risks in every country that they do business. This requires that developing regions such as the EU, China, India, etc. establish credit reporting and accounting standards that do not presently exist. Mr. Whalen will discuss how the generalized trend toward standardization of financial data will help to drive economic integration.