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RBA Glossary definition for Pillar 2
Pillar 2 – The New Basel Capital Accord, issued by the Basel Committee on Banking Supervision, aims to improve the flexibility and risk sensitivity of the existing Accord. The New Accord consists of three mutually reinforcing pillars. Pillar 2 proposes procedures for supervisory review of an institution's capital adequacy and internal risk assessment process.
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International and Foreign Exchange Markets
10 May 2011
SMP
– May 2011
The Government also announced a restructuring of the banking system which, through mergers of some banks and wind-downs of others, will result in just two full-service domestic ‘pillar’ banks.
https://www.rba.gov.au/publications/smp/2011/may/intl-fx-mkts.html