Big US banks forced to adopt Basel II, says expert
Boston -- Internationally active American banks will have to implement the new Basel Accord, also known as Basel II, even if it is not adopted in the United States, says Kevin Fisher, president of Boston-based management consultancy Dartmouth Research.
Speaking in an interview after the workshop, Operational Risk in the Securities and Investment Industry, organised by the Securities Operations Forum in New York at the end of January, Fisher says US banks would be forced to implement Basel II by regulators in the countries in which they operate.
“The bottom line is that all the foreign banks with operations in the US have to comply with such rules as the Sarbanes-Oxley and others; it is only fair and operationally efficient for US banks to
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