US regulators outline QIS4 process
WASHINGTON, DC – US regulators are busy finalising the text for the fourth quantitative impact study (QIS4), which they expect to issue at the end of October to the banks participating in the exercise.
Federal Reserve sources say they hope to be able to collect the QIS4 results from the banks in mid-January 2005, then digest the results quickly enough to be able to issue a notice of proposed rulemaking (NPR) in June 2005. In the US, an NPR contains actual draft regulatory text for the implementation of Basel II in that country. The advance notice of proposed rulemaking, issued in July 2003, was more of a consultation exercise. US regulators hope to have final regulatory text in place for Basel
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