FSA website updates Pillar IIdiscussions
LONDON – The UK Financial Services Authority has published an update on its internal discussions on Pillar II, as well as a document, the IRB/AMA application review process . Both documents were posted on the Basel II section of the regulator's website in mid-June.
According to the Pillar II document, the FSA remains on target to deliver guidance for firms on the international capital adequacy standard (ICAS) framework and an ICAS (Banking and investment firms) procedures manual for supervisors by the third quarter of 2006. It also noted that the Pillar II group has so far met three times, and its next meeting is in mid-July.
The other document, IRB/AMA application review process outlines a 10-stage approval process for firms with UK operations that are
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