Basel Committee expects to make announcement on QIS 3 findings in first quarter of 2003

BASEL - The Basel Committee on Banking Supervision expects to make a preliminary announcement on the findings of the QIS 3 survey of banks late in the first quarter of 2003, a Bank for International Settlements (BIS) spokesperson said at the end of December.

Around 265 banks from nearly 50 countries were expected to reply to the QIS 3 survey, designed to seek information on how Basel II will affect banks, by December 20. However, the BIS spokesperson said banks replied directly to national banking regulatory bodies so he did not know how many banks had responded to the survey.

Regulators will validate the data collected and compile country reports which they will submit to the BIS at the end of January. The BIS will then carry out further