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Image by Clayton Cardinalli


AFSS Software Portfolio

The first AFSS wholly owned portfolio without third-party involvement and fully financed by AFSS  directors. AFSS CEO - Vincent Santeng is regarded by banks and peers as Basel Accord expert having led implementation of Basel 1, 15 and 2 as lead expert for many banks.


The Basel Accord started 1980s to replace collapse of Bretton Woods system stated enhancement of "financial stability by improving supervisory knowhow and the quality of banking supervision worldwide." Basel 1 was issued in 1988 and was organised by central bankers from G10 countries. Capital adequacy risk (unexpected loss) classified assets into five risk categories of 0%, 10%, 20%, 50%, and 100%. Banks operating internationally must maintain at least 8% Tier 1 and 2 capital. Later Basel 1.5 on market risk was issued to allow for internal Value-At-Risk (VAR) for consideration. Basel 2 revised capital framework proposing 3 main Pillars. Pillar 1 - capital requirements and introduced Tier 3 tertiary capital derived from trading activities especially of lower qualities for supporting market risk, commodities risk, and FX risk. Operational risk was also added for consideration. Pillar 2 - supervisory review and internal assessment process. Pillar 3 - disclosure to strengthen market discipline and sound banking practices. After Lehman Brothers collapsed in 2008. Basel 3 was issued in November 2010 and finalised in December 2017 for implementation from January 2023. It compels banks to have minimum amounts of common equity and liquidity ratio to compact effect of “too big to fail” to replace Tier 3 capital.

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