Banks face a mammoth and costly task consolidating their IT for Basel II. And many are lagging behind, says CSC\'s Anita Bradshaw in this guest feature.

Eleven EU governments responded to the European Commission\'s further paper in April, dealing with the risk-based Solvency II project for improving the safety of the Europe\'s insurance industry. The Commission hopes to have a draft Solvency II directive out next year, Here\'s a selection of the government comments

Basel, Switzerland, June 25 - Basel committee regulators from 13 leading industrial countries are meeting here today to give their final approval to the landmark accord on bank capital that is due to be published at 8pm on Saturday (local time).

BRUSSELS, June 14 - France was backed by three other European Union nations today in blocking adoption of a controversial accounting rule, IAS 39, increasing doubts that the rule can be adopted in its current form by January 1, 2005.

WASHINGTON, June 3 - The world\'s top banking supervisor has suggested a three-stage approach for countries that want to adopt the complex Basel II bank solvency rules but which may not yet be ready to do so.

LONDON, June 28 - Many of the world\'s largest banks see significant challenges remaining in their preparations to implement the complex Basel II upgrade of international rules for bank safety, according to a global survey of banks undertaken in April and May.

BRUSSELS, June 9 - International accounting rule-makers have come up with a `presentational solution\' that could clear the way for the European Commission to endorse the so-called IAS 39 rule that has provoked fierce opposition from some banks.

BASEL, Switzerland, June 13 - Work on completing the text of the complex, risk-based Basel II revamp of international rules on bank safety remains on course, regulatory sources said after global banking regulators set June 26 - a Saturday - as the release date for the new rules.

BASEL, Switzerland, June 27 - Hailed as a \"landmark achievement\" and a \"genuine success story in international cooperation,\" the new Basel accord for bank capital standards was issued on Saturday evening here.

Divisions emerge over \"consolidating supervisor\" approach. Surprise and glee over tough \"supervisory disclosure\" provisions By Melvyn Westlake