Resources for Basel II Capital Accord (Basel II)

Basel II – American state regulators want their say in capital rules

www.chasecooper.com

The four US federal regulators have been struggling to come to a common understanding on the implementation of Basel II. Now the supervisors in the state banks are objecting to being excluded from these deliberations.

In an open letter published on May 29th they complained that they are being left out of the federal decision-making process on how to implement the international Basel II bank accord.

In this letter - to the federal regulatory bodies, FDIC, OFT, Federal Reserve and Comptroller of the Currency, plus the US Treasury - the President of the Conference of State Bank Supervisors (CSBS), Neil Milner, said that whilst the federal banking agencies and the Treasury were working towards an agreement on a final Basel II rule, these deliberations were taking place without the involvement of any state bank regulator. "There is no greater issue than the rules which govern capital to protect the banking system, provide the foundation for economic development, and protect our citizens. Therefore, we respectfully request a state bank regulator be included in all deliberations on these issues."

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