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World banks should support international valuation standards

Series: RICS Press Release ; (pr074) 31 May 2001, (8)Publication details: 2001Subject(s): Summary: RICS urges world banks to adopt the international valuation standards of the property profession where property is used as collateral to bank lending. RICS has made a number of recommendations to the Basel Committee on Banking Supervision (BCBS) which is currently consulting on a New Basel Capital Accord (NBCA); this will be the basis on which major bank lending will be undertaken in the future.

RICS urges world banks to adopt the international valuation standards of the property profession where property is used as collateral to bank lending. RICS has made a number of recommendations to the Basel Committee on Banking Supervision (BCBS) which is currently consulting on a New Basel Capital Accord (NBCA); this will be the basis on which major bank lending will be undertaken in the future.