The OTS is a full member of the Basel Committee on Banking Supervision, made up of banking supervisory authorities from more than a dozen nations to encourage cooperation on banking supervisory matters and to propose broad supervisory standards and guidance for the worldwide financial services industry. As one of the four federal bank regulatory agencies in the U.S., OTS has equal representation on the committee with the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
OTS participates on the committee’s working groups and is a contributing member on the Accord Implementation Group, the Policy Development Group and the Accounting Task Force.
The OTS and the other federal banking agencies have completed work toward adopting a new risk-based capital adequacy framework to implement the advanced approaches of the Basel II Accord. The framework requires some - and permits other - qualifying banking organizations to use an internal ratings-based approach to calculate credit-risk capital requirements and to use advanced measurement approaches to calculate operational-risk capital requirements.
The OTS and the other federal banking agencies are also proceeding through the regulatory process to implement a U.S. version of the Basel II standardized approach. That effort follows review of comments on Basel 1A, an earlier proposal aimed at providing a risk-sensitive method for assessing capital adequacy for institutions that will not apply the more complex Basel II rules.
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