Banks advised to make Basel II views known in QIS 3

LONDON - Banks would be wise to make their views on the complex Basel II bank capital accord known via the key QIS 3 survey that’s due out on October 1, the UK’s chief financial regulator said today.

QIS 3 – the third Basel II quantitative impact study – will seek information on how the risk-based Basel II accord would affect banks when it comes into effect in late 2006, noted Financial Services Authority (FSA) chairman Howard Davies. The FSA is the UK’s main financial market watchdog.

Davies said QIS 3 is not formally a consultative exercise, but it will allow banks to see an overview of the Basel II proposals for determining minimum protective capital requirements for major banks.

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