Congress to hold hearing on the standardised approach for US banks
A congressional notice for a hearing to discuss implementation of Basel II, which will include the controversial request of four of the largest banks in the US to allow the standardised approach, has been issued to the four US regulators.
The hearing, according to the letter from lawmakers obtained by Dow Jones, is expected to criticise the current plans on how Basel II is implemented. The primary point of debate, highlighted by the four banks, is that forcing Basel II onto only the largest and most internationally active banks will be of high cost and little value. The letter requests that no final versions of Basel II are completed until after the congressional hearing, which has been tentatively set for September 14.
The final
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