FDIC board meeting on Basel II scheduled for September 5
The Federal Deposit Insurance Corporation has confirmed that it will hold a board meeting to discuss implementing Basel II on September 5. The board is expected to approve the draft notice of proposed rulemaking (NPR) at the meeting, ahead of the congressional hearing on the revised Accord on September 14.
The discussion agenda for the meeting includes the NPR and market risk data collection proposals regarding Basel II.
Recently, four banks (link) compelled to implement Basel II in the US argued that they should be allowed to implement the standardised approach. The resulting letter (link) from congress to the regulators has requested that no finalised versions of the NPR are completed until the congressional hearing takes place.
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