Attached is a statement released jointly today by the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Office of Thrift Supervision pertaining to the proposed qualification process for Basel II implementation in the United States. The primary focus of the interagency statement is the appropriate scope and timing of institution-specific Basel II implementation plans and the qualification process to be proposed by the federal banking and thrift agencies for Basel II-based rules to establish minimum regulatory capital requirements.
Reserve Banks are asked to distribute this statement to banking organizations that are participating in the QIS-4 process, that meet the proposed criteria for mandatory institutions, or that have shown an interest in Basel II.
If you have any questions regarding the attached statement, please contact Walt Miles at the Board of Governors, walt.h.miles@frb.gov, (202) 452-5264.