BASEL ACCORD COMPLIANCE EXPERTS
AFSS Software Portfolio
AFSS's first wholly owned portfolio, financed by AFSS directors, is a significant achievement without third-party involvement. Vincent Santeng, AFSS's CEO, is highly regarded by banks and peers as an expert on the Basel Accord, leading the implementation of Basel 1, 1.5, and 2 for several banks.
The Basel Accord was introduced in the 1980s to enhance financial stability and banking supervision worldwide. Basel 1, issued in 1988, classified assets into five risk categories and required banks to maintain at least 8% Tier 1 and 2 capital. Basel 1.5 allowed internal Value-At-Risk (VAR) for market risk. Basel 2 proposed three pillars: capital requirements, supervisory review, and disclosure for market discipline. Basel 3, finalised in 2017 for implementation from 2023, mandates minimum common equity and liquidity ratios to address the "too big to fail" problem, replacing Tier 3 capital.