Senators want regulators to hurry up with Basel II
Democrat senator Chris Dodd, and his Republican counterpart Richard Shelby, have asked the four US regulators in charge of Basel II implementation to finalise the rules quickly.
Dodd, who chairs the Senate Banking Committee, said in a letter addressed to the heads of the four regulators involved: “We urge you to continue your work [on Basel II] with the goal of reaching a consensus as soon as practicable.” The letter was countersigned by Shelby, the highest-ranking Republican on the Committee.
The four US regulators are the Federal Reserve, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision.
The regulators
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