Banking Agencies Announce Publication of
Basel Accord Consultative Paper
WASHINGTON -- The Basel Committee on
Banking Supervision, based in Basel, Switzerland, released its third
consultative paper on the new Basel Capital Accord for comment on
April 29, 2003. The
paper seeks to continue the consultation process on revising the
1988 Capital Accord.
Comments are invited by July 31, 2003.
The Basel
Committee released the previous consultative paper on the new Accord
in January 2001. The
proposals have been substantially revised since that time to reflect
the comments received on the 2001 document, as well as comments on
several other documents released by the
Basel Committee.
Particular focus has been given to the Internal Ratings Based
Approaches for commercial and retail credits, securitization, and
the quantitative methodologies for operational risk. These changes reflect the
continuing development of the new Accord and do not reflect a
fundamental change to the overall framework, which establishes
minimum capital for credit, market and operational risks. The framework also
encompasses supervisory review of capital adequacy and market
discipline through enhanced disclosure.
The U.S. agencies plan to follow the release of
this consultative paper with an Advance Notice of Proposed
Rulemaking (ANPR) in the next few months. This ANPR will be based on
the Committee’s third consultative paper and will focus on how the
U.S. agencies intend to implement domestic changes that reflect the
specific nature of U.S. banks and banking. The ANPR will also provide a
proposal on the scope of application of the new Accord (i.e., the
criteria in the U.S. rule governing the population of U.S. banks
that will be required to comply with Basel II). Banks and other
interested parties will be given the opportunity to comment on the
ANPR proposals, as well as on the Notice of Proposed Rulemaking that
will follow the ANPR.
The
paper is available on the committee’s website at www.bis.org, the Office of the
Comptroller of the Currency’s (OCC) website at www.occ.treas.gov, the Federal
Reserve Board’s website at www.federalreserve.gov,
and the Federal Deposit Insurance Corporation’s website at www.fdic.gov. Comments on the Committee’s
third consultative paper on the new Basel Capital Accord may be sent
to both the Basel Committee and the regulatory
agencies.
Comments for the Basel Committee can be sent
electronically to:BCBS.Capital@bis.org or to:
Basel Committee on Banking Supervision
Bank for International Settlements
CH – 4002, Basel
Switzerland
Comments can be
sent to the Federal Reserve electronically to Regs.comments@federalreserve.gov
or to:
Basel 2003 Capital
Proposal
Board of
Governors of the Federal Reserve System
Mail stop
155
20th
Street and Constitution Avenue, N.W.
Washington,
DC 20551
Comments can be
sent to the Federal Deposit Insurance Corporation electronically to
Comments@FDIC.gov or
to:
Robert E. Feldman
Executive Secretary
Attention:
Comments
Federal Deposit Insurance
Corporation
550 17th
Street, NW
Washington, DC
20429
Comments can be
sent to the Office of the Comptroller of the Currency electronically
to Basel.Comments@occ.treas.gov
or to:
Basel 2003 Capital Proposal
Office of the Comptroller of the
Currency
Mail Stop 3-6
250 E Street SW
Washington, DC
20219
# # #
Media Contacts:
FDIC:
Phil Battey
(202) 898-6993
OCC:
Bob Garsson (202)
874-5770
Federal Reserve:
Dave Skidmore
(202) 452-2955