Six months for US parallel running?
BOSTON – Regulatory authorities in the US might shave Basel II’s year of parallel running down to just six months, according to several industry sources.
US regulators would do this so that they could implement Basel II by January 1, 2008 – at the same time as the rest of the world – despite having to delay the publication of the notice of proposed rulemaking by an indefinite period at the end of April.
Halving the year of parallel running would enable the nine or so US banks implementing the advanced credit and op risk approaches to stick to their current schedule at their headquarters as well as at their foreign subsidiaries. One source said
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