Board of Governors of the Federal Reserve
System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Banking Agencies Announce Publication of Basel Accord Consultative Paper
The Basel Committee on Banking Supervision, based in Basel, Switzerland, released its third consultative paper on the new Basel Capital Accord for comment on April 29, 2003. The paper seeks to continue the consultation process on revising the 1988 Capital Accord. Comments are invited by July 31, 2003.
The Basel Committee released the previous consultative paper on the new Accord in January 2001. The proposals have been substantially revised since that time to reflect the comments received on the 2001 document, as well as comments on several other documents released by the Basel Committee. Particular focus has been given to the Internal Ratings Based Approaches for commercial and retail credits, securitization, and the quantitative methodologies for operational risk. These changes reflect the continuing development of the new Accord and do not reflect a fundamental change to the overall framework, which establishes minimum capital for credit, market and operational risks. The framework also encompasses supervisory review of capital adequacy and market discipline through enhanced disclosure.
The U.S. agencies plan to follow the release of this consultative paper with an Advance Notice of Proposed Rulemaking (ANPR) in the next few months. This ANPR will be based on the Committee�s third consultative paper and will focus on how the U.S. agencies intend to implement domestic changes that reflect the specific nature of U.S. banks and banking. The ANPR will also provide a proposal on the scope of application of the new Accord (i.e., the criteria in the U.S. rule governing the population of U.S. banks that will be required to comply with Basel II). Banks and other interested parties will be given the opportunity to comment on the ANPR proposals, as well as on the Notice of Proposed Rulemaking that will follow the ANPR.
The paper is available on the committee�s website at www.bis.org, the Office of the Comptroller of the Currency�s (OCC) website at www.occ.treas.gov, the Federal Reserve Board�s website at www.federalreserve.gov, and the Federal Deposit Insurance Corporation�s website at www.fdic.gov. Comments on the Committee�s third consultative paper on the new Basel Capital Accord may be sent to both the Basel Committee and the regulatory agencies.
Comments for the Basel Committee can be sent electronically to:[email protected] or to:
Basel Committee on Banking SupervisionComments can be sent to the Federal Reserve electronically to:
Bank for International Settlements
CH � 4002, Basel
Switzerland
[email protected] or to:
Basel 2003 Capital ProposalComments can be sent to the Federal Deposit Insurance Corporation electronically to
Board of Governors of the Federal Reserve System
Mail stop 155
20th Street and Constitution Avenue, N.W.
Washington, DC 20551
[email protected] or to:
Robert E. FeldmanComments can be sent to the Office of the Comptroller of the Currency electronically to [email protected] or to:
Executive Secretary
Attention: Comments
Federal Deposit Insurance Corporation
550 17th Street, NW
Washington, DC 20429
Basel 2003 Capital ProposalBIS Press Release (45 KB PDF)
Office of the Comptroller of the Currency
Mail Stop 3-6
250 E Street SW
Washington, DC 20219
Overview Paper (190 KB PDF)
Entire Consulting Paper (1,849 KB PDF)
Part 1 (183 KB PDF)
Part 2 (770 KB PDF)
Part 3 (151 KB PDF)
Part 4 (142 KB PDF)
Annex 1 (36 KB PDF)
Annex 2 (90 KB PDF)
Annex 3 (46 KB PDF)
Annex 4 (121 KB PDF)
Annex 5 (60 KB PDF)
Annex 6 (52 KB PDF)
Annex 7 (50 KB PDF)
Annex 8 (52 KB PDF)
Annex 9 (123 KB PDF)