US banks reject op risk capital charge
Washington, DC -- US banking organisations have vehemently rejected the operational risk capital charge in the new Basel Accord, also known as Basel II. Responding to the inter-agency advance notice of proposed rulemaking (ANPR) on implementing the New Basel Capital Accord in that country, US financial institutions, legislators and regulators alike said the charge was inappropriate and burdensome.
The ANPR classifies US banks into three groups. "Core banks," with assets of at least $250 billion
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