Supervisory staff of the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation discussed the U.S. implementation of the proposed Basel Accord (Basel II) with invited representatives from about seventy-five large banking organizations at three outreach meetings in 2003: May 22 at the Federal Reserve Bank of New York, June 2 at the Federal Reserve Bank of Chicago, and June 3 at the Federal Reserve Bank of Atlanta. The meetings provided a forum for the discussion of choices available to banking organizations that are interested in Basel II but are not among the banks that will be required to adopt it.

Documents Presented at the Meetings

U.S. Implementation of Basel II: An Overview (76 KB PDF)

Provides an overview of proposed Accord revisions and outlines plans for U.S. implementation. It includes information about which institutions will be required to adopt Basel II and which will have the option. It also describes the steps that institutions must take to adopt Basel II, whether adoption is voluntary or required.

IRB Implementation: Supervisory Expectations and Implementation Challenges (51 KB PDF)

Describes supervisory expectations for the Advanced Internal-Ratings Based approach (A-IRB) to credit risk, as it applies to corporate credits. It previews forthcoming joint supervisory guidance that will be issued in draft form for comment this summer.

Advanced Measurement Approaches (AMA) for Operational Risk (164 KB PDF)

Describes the Advanced Measurement Approach (AMA) for operational risk and previews joint supervisory guidance to be released in draft form this summer.

Basel's Third Quantitative Impact Study: The Results (53 KB PDF)

Provides an overview of results from the Third Quantitative Impact Study (QIS 3) conducted by the Basel Committee on Banking Supervision. The QIS 3 was conducted to understand the possible effects that the latest Basel II proposals might have on capital levels across various portfolios and subportfolios of participating banks. Twenty-two U.S. bank holding companies and more than 350 banking organizations worldwide took part.